ÀÏ˾»úÎçÒ¹¸£Àû

Key steps and timetables

The restructuring plan (RP) process largely mirrors that used in schemes:

For cases where Cross Class Cram-Down (CCCD) or valuation issues are likely to be contested, or where valuation experts need to be cross-examined, it is prudent to notify the court at the convening hearing stage and to allow sufficient time to be factored into the court time table to allow proper consideration of the matters by both the parties affected and the court.

Snowden LJ in the Court of Appeal in Re AGPS BondCo plc; sub nom Strategic Value Capital Solutions Master Fund LP v AGPS BondCo plc (referred to here as Adler) cautioned that the court’s willingness to decide cases quickly to assist companies in genuine and urgent financial difficulties must not be taken for granted or abused. In particular, where a restructuring is designed to deal with the foreseeable maturity of financial instruments, and a division of the anticipated benefits of the restructuring is being negotiated between sophisticated investors, sufficient time for the proper conduct of a contested Part