Allen & Overy LLP and South Square
What this session will cover
The Corporate Insolvency and Governance Act, which came in to force in June 2020 has introduced new procedures and measures to seek to rescue companies in financial distress. The legislation has led to a number of significant changes, in particular a new restructuring process as Part 26A of the Companies Act 2006, which includes the “cross-class cram down”, which is not possible in a Scheme and allows the court to sanction the approval of a compromise or arrangement where dissenting classes of creditors or members are bound on certain conditions. Is this change likely to lead to more disputes?
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