Scheme of Arrangement in UK Law
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Protection of Minorities Against Oppression Under Section 206 of the Companies Act, 1948
... ... Act, 1948, provides that, where a compromise or arrangement is proposed between a company and its creditors and/or ... necessity of obtaining the court’s sanction to any scheme brought under the section, and the court will withhold its ... ...
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Statutes
... ... in enabling him to arrive at an equitable and reasonable scheme of arrangement with his creditors, and, in particular, a scheme ... ...
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Schemes of arrangement
... Chapter 2 ... Schemes of Arrangement ... An LLP, but not a partnership, 1 may propose and enter into a scheme of arrangement with its creditors and/or members, or any class of them. Schemes are a remarkable legal framework, having been introduced under the ... ...
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Corporate Mobility and Company Law
Globalisation has given commercial parties more freedom to choose the company law system that best suits their private needs. The growing range of techniques to facilitate choice between systems of...... ... 9 Another possibility is the ‘holdco scheme of arrangement’, a court-supervised statutor y process that enables a ... ...
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Voluntary arrangements
... ... may find it beneficial to propose a partnership voluntary arrangement (PVA) or limited liability partnership voluntary arrangement (LLPVA). 2 A ... in satisfaction of the debts of the partnership/LLP or a scheme of arrangement of its affairs. Creditors may be content to vote in ... ...
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Century National Merchant Bank Limited and Others v Davies and Others
This appeal to the Privy Council from the Court of Appeal of Jamaica concerned the lawfulness of action taken by the Minister of Finance on 10th July, 1996 under statutory powers to assume temporar...... ... The rationale of this statutory scheme is that the soundness of the banking sector is critical to the economy of ... for the winding up of the bank; or (c) propose a compromise or arrangement between the bank and its creditors under s.192 of the Companies Act or a ... ...
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The Adaptive Capacity of Markets and Convergence in Law: UK High Yield Issuers, US Investors and Insolvency Law
This article examines the increasing access by UK issuers of high yield bonds to US investors notwithstanding substantive differences in the approach to valuation of the issuer in financial distres...... ... to a consensual, out-of-court restructuring, MyTravel proposed a scheme of arrangement pursuant to which senior lenders would receive a ... ...
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Debt Restructuring and Notions of Fairness
This article examines concern for fairness in the way in which loss is distributed when a company or financial institution facing financial difficulties is restructured. It shows how this concern i...... ... employed the idea of the ‘impartial spectator’ in his ethical scheme to examine our conduct, and to consider whether that conduct can ... it was common to take advantage of England’ s scheme of arrangement procedure which enabled the transaction to be imposed on the senior ... ...
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Schemes of Arrangement and Asbestos Litigation: In Re Cape plc
... ... CASE S Scheme s of Arrange ment and Asb estos Liti gation: In Re Cape pl c JohnT ownsend n Schemes of arr angemen t under section 425of the Companies Act1985have ... ...
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Preventive Debt Restructuring and the Nigerian Draft Insolvency Legislation: Lessons from a Comparative Perspective
... ... The receivership and arrangement and compromise provisions provided for in the legislation ... compromise provisions under CAMA, largely modelled on the English scheme of arrangement, provide a procedure which leaves management in place to ... ...
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