Complaint was made that the turn-out at the meeting to approve the proposed scheme of arrangement was about 15% representing just over half in value of the total claims, judged in each case by reference to ‘actual or pending’ claims. Counsel for the company pointed out that the relatively low number was not unusual by the standards of schemes of arrangement.
Held: Lewison J said that the turn-out was not in itself a valid reason for refusing to endorse the majority view.
Judges:
Lewison J
Citations:
[2005] EWHC 1621 (Ch), [2006] BCC 14
Links:
Jurisdiction:
England and Wales
Cited by:
Cited – Home Insurance Company, Re ChD 10-Nov-2005
The parties sought approval of scheme of arrangement of the American company at issue, a company conducting mainly re-insurances. Detailed proposals were put to the court as to the recovery of sums due to the company and payment out to the claimants . .
Cited – Cape Plc and Others, Re Companies Act 1985 ChD 16-Jun-2006
The court was asked to sanction a scheme of arrangements, and particularly to approve a proposed scheme which itself contained the power to make amendments to the scheme.
Held: The court did have power to sanction such a proposed scheme of . .
Lists of cited by and citing cases may be incomplete.
Insurance, Company, Insolvency
Updated: 01 July 2022; Ref: scu.228951