The Business Law Reports
[2023] Bus LR 1163
Chancery Division
In re
Great Annual Savings Co Ltd
[2023] EWHC 1141 (Ch)
2023 April 19, 20, 25;May 16
Adam Johnson J
Company— Reorganisation of debt— Company in financial difficulties— Company seeking court’s sanction of restructuring plan— Court having jurisdiction to sanction plan even if not agreed by requisite majority of plan creditors— Exercise of jurisdiction dependent on court being satisfied no member of dissenting class would be worse off if plan sanctioned than under relevant alternative— Expert evidence put forward by proposer of plan indicating requirement satisfied— Dissenting creditor not adducing expert evidence to contrary— Whether court obliged to accept proposer’s evidence—
Companies Act 2006 (c 46), s 901G