Cross-Class Cram Down in UK Restructuring Plans: Virgin Active
By EsqSocial Corporation 02/06/21
Mr Justice Snowden’s recent judgment sanctioning the Virgin Active restructuring plans is significant for several reasons. Not only is it the first judgment to consider the cram down power of the 2006 Companies Act, but it is only the third instance that the cross-class cram down mechanism has been used. It is also the first time it has been used to cram down classes of dissenting landlords....
By: Weil, Gotshal & Manges LLP