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Spain - November 30 2012
The recent case of Cortefiel SA, a leading Spanish high street clothing retailer (“Cortefiel”), has demonstrated the possibility of amending and extending a company’s obligations under its finance documents by way of an English law scheme of arrangement.
European Union - June 25 2012
The European Commission has published its long awaited proposal for a Directive establishing a framework for the recovery and resolution of banks and investment firms in the EU.
United Kingdom - February 15 2012
Providing further evidence that schemes of arrangement (“schemes”) are an increasingly useful tool in the restructuring of overseas companies, on 20 January 2012, the High Court sanctioned a scheme proposed by PrimaCom Holding GmbH (“PrimaCom”), a German incorporated company, with its centre of main interests (or “COMI”) in Germany and whose affected creditors were domiciled outside the UK.
United Kingdom - April 1 2011
The English law scheme of arrangement (or "scheme") has re-emerged as a favoured tool of choice for those engaged in complex financial restructurings, in particular where a consensual solution may not be capable of implementation.
