Sanctions no bar to sanction: Nostrum Oil & Gas PLC’s scheme of arrangement

Tom Astle, Alex Kay, James Maltby and Naomi Parmar of Hogan Lovells summarise the sanction of the first Part 26 scheme to address expressly the position of scheme creditors subject to sanctions imposed as a result of the war in Ukraine, and query whether the outcome will be any different in a scenario where sanctioned creditors are not supportive of the relevant restructuring. 

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