UK Company Restructuring Plans: What is Next After Adler?

Clare Tanner, Jonathan Lawrence and Maya Ffrench-Adam of K&L Gates look at the clarity provided by the Adler decision on Part 26A plans, particularly where cross-class cramdown is likely to be engaged, but also consider what the Court of Appeal left open, including matters such as the effectiveness of a step taken in order to engage the jurisdiction of the English Court and the level of compensation which “out of the money” creditors or shareholders should receive on the confiscation of their shares or extinction of their debts.

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