Restructuring Plans - Practical Guidance & Recent Case Law

Introduction

Restructuring plans were introduced into Part 26A of the Companies Act 2006 as part of the package of emergency measures in the Corporate Insolvency and Governance Act 2020.

This provides a company encountering financial difficulties with a powerful restructuring tool.

A restructuring plan allows a company to reach a binding ‘arrangement’ or ‘compromise’ with its creditors and/or shareholders.

The restructuring plan regime draws upon the features of the existing scheme of arrangement procedure (which remains available) but includes the ability to affect a ‘cross-class cram down’, or over-ruling, of dissenting classes of creditors or shareholders.

This regime is highly flexible and has, since its introduction in 2020, been used in a wide variety of circumstances.

This virtual classroom seminar will provide an essential guide to the restructuring plan regime, with particular focus on providing practical tips and important recent developments.

What You Will Learn

This live and interactive course will cover the following:

• A brief overview of the restructuring plan procedure
• How to prepare an application for a restructuring plan
• What needs to be provided in the Practice Statement Letter and the Explanatory Statement
• ‘Class issues’
• What needs to be prepared in advance of the convening hearing, including valuation evidence and strategic issues for consideration at that hearing
• Issues to consider in relation to plan meetings
• What needs to be prepared in advance of the sanction hearing
• Lessons to be learnt from important recent cases

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.