Restructuring plans: where are we a year on?

The team at Slaughter and May reviews developments in UK Part 26A restructuring plans over the past year, noting a decline in new plans from 13 to six but a 100% sanction rate, alongside growing use of the procedure for leasehold restructurings and cross-border transactions involving US companies, while considering evolving judicial guidance on creditor engagement, allocation of restructuring benefits, evidential requirements and cross-class cramdown, including against HMRC.

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