Since the start of the current credit crunch there has been a significant increase in the use of schemes of arrangement as restructuring tools. In most cases a scheme will be the fall-back strategy for use in cases where consensual changes to creditors’ and/or shareholders’ rights under finance documents cannot be negotiated. Often the need for a scheme will fall away, but the prospect of a scheme will have helped deliver the consensus. So as well as those schemes that see their way through to implementation, there are many draft schemes in the marketplace.
The Weil London Restructuring Team has produced a client note on schemes of arrangement, which provides an overview of the use of creditor schemes of arrangements and highlights key practice points.
View our Client Guide to Schemes of Arrangement
More from the Weil European Restructuring Blog
This website is maintained by Weil, Gotshal & Manges LLP in New York, NY © 2020 Weil, Gotshal & Manges LLP, All Rights Reserved. The contents of this website may contain attorney advertising under the laws of various states. Quotation with attribution is permitted. This publication is provided for general information purposes only and is not intended to cover every aspect of the purpose for the law. The information in this publication does not constitute the legal or other professional advice of Weil London or the authors. The views expressed in this publication reflect those of the authors and are not necessarily the views of Weil London or of its clients. These materials may contain attorney advertising. Prior results do not guarantee a similar outcome.