Part 26A restructuring plan deal debrief—Project Verona Ltd


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert
Practice notes

Part 26A restructuring plan deal debrief—Project Verona Ltd


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Restructuring & Insolvency expert

Practice notes
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Project Verona Limited applied for a Part 26A restructuring plan (RP) at a convening hearing in May 2024. The key points appear below (capitalised terms not defined herein are as defined in the convening and sanction judgments).

This Deal Debrief forms part of our Restructuring plans toolkit.

Name of plan companyProject Verona Limited (the Company), a wholly owned subsidiary of a wider group (the Group) headed by Tasty Plc.
Industry sectorRestaurants
Place of debtor’s incorporation and jurisdictional factorsEngland & Wales.
The Company entered into a deed poll under which it assumed liability for certain liabilities owed by the Group.
Legal counsel involvedThe Company: Mr M Weaver KC and Ms K Longstaff (Radcliffe Chambers) (instructed by Shoosmiths LLP)
Timeline9 April 2024: Company entered into a Deed Poll, under which it assumed liability for certain liabilities
10 April 2024: Practice Statement Letter (PSL) circulated and posted on the website
19 April 2024: Supplemental PSL circulated and posted on the website
29 April 2024: original date anticipated
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Jurisdiction(s):
United Kingdom

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