In re Great Annual Savings Co Ltd

Subject Matter

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

[2023] EWHC 1141 (Ch); [2023] Bus LR 1163; [2023] 2 BCLC 278; [2023] WLR(D) 232, Ch D