Schemes of Arrangement: Law and Practice

This new guide to schemes of arrangement draws together all of the elements of the law and practice concerning both creditor and member schemes. Member schemes of arrangement have become the preferred method of implementing takeovers in the UK. Creditor schemes of arrangement are increasingly used in restructuring matters and the trend in their usage in foreign companies is likely to continue as many credit documents across Europe are arranged and underwritten in London under English law. The book considers the effect given to an English scheme in foreign jurisdictions, and other Private International Law issues. A major issue for those considering a scheme for creditors is whether a scheme or CVA (Company Voluntary Arrangement) is more appropriate and this book assists the reader by including an analysis of the pros and cons of schemes and CVAs. There are very few sources of information on schemes of arrangement and the area takes much of its substance from case law. This book, addressing the law and practical issues faced by practitioners on a day-to-day basis, is a first in the field.

PART I - INTRODUCTION ; 1. Introduction and Outline of Process ; 2. Jurisdiction and the Types of Companies that may Propose Schemes ; PART II - KEY PRINCIPLES RELATING TO CREDITOR AND MEMBER SCHEMES ; 3. Meaning of Key Legal Terms and Concepts ; 4. Court Hearings, Creditor or Member Meetings and Disclosure ; 5. Listed Company Considerations ; PART III - CREDITOR SCHEMES ; 6. Major Types of Creditor Schemes in a Corporate Restructuring Context ; 7. Company Voluntary Arrangement (CVA) Compared with Schemes ; 8. Creditor Schemes in Practice ; PART IV - MEMBER SCHEMES ; 9. Types of Member Schemes ; 10. Takeovers by Scheme of Arrangement ; PART V - PRACTICE AND PROCEDURE ; 11. Practice and Procedure - Creditor Schemes ; 12. Practice and Procedure - Member Schemes