As the UK teeters on the brink of what would appear to be an inevitable recession, new restructuring tools introduced in the UK in 2020 pursuant to the Corporate Insolvency & Governance Act 2020 (“CIGA”) will ensure that...more
10/24/2022
/ Absolute Priority Rule ,
Borrowers ,
Corporate Governance ,
Corporate Insolvency and Governance (CIG) Act 2020 ,
Creditors ,
Debt Restructuring ,
Equity Swaps ,
Recessions ,
Shareholders ,
UK ,
UK Companies Acts
On 28 June 2021, the English High Court handed down a judgment declining to sanction a restructuring plan proposed by Hurricane Energy PLC, which sought to cram down the dissenting class of shareholders and hand over the...more