The judgment contains an interesting discussion of the “affected by the compromise or arrangement” test in section 901C(3) of the Companies Act 2006. The Judge considered the effect of the decision of Zacaroli J in Re Hurricane Energy plc [2021] EWHC 1418. The Judge held that the rights of class B shareholders in one of the plan companies were not affected by the Plans given that neither their contractual terms nor economic value will be affected by the Plans.
Tom Smith KC, Paul Fradley, and Annabelle Wang appeared for the plan companies instructed by Willkie Farr & Gallagher (UK) LLP (Graham Lane, Alexander Roy, and Matteo Clarkson-Maciel).
Click here for the full judgement.
