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5 - Creditor schemes of arrangement: debt restructuring

Published online by Cambridge University Press:  16 December 2021

Jennifer Payne
Jennifer Payne
Affiliation:
University of Oxford
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Summary

This chapter assesses in detail one of the most common uses of schemes in recent years, namely as a debt restructuring tool. The chapter deals with some important preliminary issues, such as the meaning of ‘creditor’ for scheme purposes and the division of creditors into classes. It compares the use of schemes as a debt restructuring device with other mechanisms including CVAs and administration and the new Part 26A restructuring plans. This chapter examines in detail the reforms brought about by the Corporate Insolvency and Governance Act 2020 including the introduction of the restructuring moratorium and the Part 26A restructuring plan.

Keywords

Debt restructuringrestructuring moratoriumrestructuring plancreditor classesminority protectionvaluation
Type
Chapter
Information
Schemes of Arrangement
Theory, Structure and Operation
 , pp. 201 - 328
Publisher: Cambridge University Press
Print publication year: 2021

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