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United Kingdom scheme of arrangementcross bordernew money

Re ED&F Man Treasury Management Plc

[2020] EWHC 2290 (Ch)
JurisdictionUnited Kingdom
CourtHigh Court of Justice, Chancery Division (Companies Court)
Year2020
StatusPersuasive authority

Key Principle

A Part 26 scheme of arrangement may be sanctioned to restructure both English-law governed credit facilities and New York-law governed private placement notes into new secured instruments with a common maturity and covenant package, together with an opportunity for scheme creditors to provide new money, where the company faces imminent insolvency without the scheme.

Area of Law

General

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