In this third and final instalment of our review of key issues concerning schemes of arrangements, we contrast schemes with US Chapter 11 proceedings. The shape of a restructuring is often influenced by a number of key factors; we highlight those that are most likely to be relevant.
Our first scheme hot topics bulletin covered jurisdiction, stays on challenges in foreign courts, new money and the imposition of new obligations, and class composition. Part II addressed issues of valuation, third party releases, voting by ultimate beneficial holders and amendments to schemes.
This series of bulletins assumes a certain level of background knowledge. For additional information, please see our recently-updated introductory guide to Schemes of Arrangement as Restructuring Tools.