The Chancery Division allowed the claimant company’s application for sanction of a scheme of arrangement. The scheme concerned a company based in China, which had experienced difficulties following the Coronavirus pandemic. Some of the company’s bond holders were likely to be affected by the financial sanctions imposed on Russia as a result of the war in Ukraine. The court held that all the requirements for sanction of the scheme were made out. It would convene a single scheme meeting to vote on whether to approve the scheme.
Re CFLD (Cayman) Investment Ltd (7 December 2023)
Published: