In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the post-Adler (and now post-Thames) world.
The Thames Water appeal represents only the second time the Court of Appeal has considered an English restructuring plan, following the overturn of the Adler sanction in January 2024. It creates an opportunity to review not just the key issues arising in the Thames Water case, but also some of the other important themes and trends which have arisen in respect of restructuring plans pursued in the wake of the Adler judgment.
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