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class composition
Re Hawk Insurance Co Ltd
[2002] BCC 300
Key Principle
In determining classes for a scheme of arrangement the court applies the Sovereign Life v Dodd test pragmatically: creditors form a single class unless their legal rights are so dissimilar that they cannot consult together with a view to their common interest, and differences reflecting only the valuation of contingent claims do not fracture the class.
Area of Law
General
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