United Kingdom scheme of arrangementsanctionsmoratorium

Re Nostrum Oil & Gas plc

[2022] EWHC 1646 (Ch)

JurisdictionUnited Kingdom

CourtHigh Court of Justice, Business and Property Courts, Insolvency and Companies List (Chancery Division)

Year2022

StatusPersuasive authority

Key Principle

On a convening application, the court will order a single meeting of noteholders for a Part 26 scheme of arrangement that restructures over-leveraged debt and imposes a moratorium on enforcement to allow regulatory approvals, notwithstanding the presence of sanctioned or sanctions-sensitive elements, provided the scheme is properly structured.

Area of Law

General

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