Schemes of Arrangement Law and Practice

Author: Geoff O'dea; Julian Long; Alexandra Smyth; William Trower; Andrew Thornton
Publisher: Oxford University Press
ISBN: 9780199665921
Published In: November 2012
Format: Hardback , 344 pages
Jurisdiction: Commonwealth, U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

The only book to cover creditor and member schemes of arrangement
Covers technical and practical issues which often arise in the course of practice
Assimilates the relevant case law and explains it in a practical context
Examination of the international recognition of schemes provides valuable insight into the increasingly popular use of creditor schemes in foreign companies
Author team includes experts from law firms and the UK bar

This new guide to schemes of arrangement draws together all of the elements of the law and practice concerning both creditor and member schemes.

Member schemes of arrangement have become the preferred method of implementing takeovers in the UK. Creditor schemes of arrangement are increasingly used in restructuring matters and the trend in their usage in foreign companies is likely to continue as many credit documents across Europe are arranged and underwritten in London under English law. The book considers the effect given to an English scheme in foreign jurisdictions, and other Private International Law issues.

A major issue for those considering a scheme for creditors is whether a scheme or CVA (Company Voluntary Arrangement) is more appropriate and this book assists the reader by including an analysis of the pros and cons of schemes and CVAs.

There are very few sources of information on schemes of arrangement and the area takes much of its substance from case law. This book, addressing the law and practical issues faced by practitioners on a day-to-day basis, is a first in the field.

Readership: Practitioners in the corporate, finance and restructuring and insolvency areas especially in Commonwealth jurisdictions, but also in the US and Europe.

Part I - Introduction
1: An outline of the process and applicable legislation
2: What types of companies may propose a scheme?
Part II - Creditor Schemes
3: Types of creditor schemes
4: Creditor schemes in practice
5: Common grounds for challenging schemes
6: English tax considerations for schemes
7: Listed company considerations
8: Suggested reforms to the legislation
Part III - Member Schemes
9: Types of member schemes
10: Takeovers by scheme of arrangement
Part IV - Practice and Procedure
11: Practice and procedure - creditor schemes
12: Practice and procedure - member schemes

Geoff O'dea, Partner, Freshfields Bruckhaus Deringer LLP, Julian Long, Partner, Freshfields Bruckhaus Deringer LLP, and Alexandra Smyth, Senior Associate, Freshfields Bruckhaus Deringer LLP

Consultant Editors William Trower QC, South Square, Gray's Inn, London, and Andrew Thornton, Erskine Chambers, London

Geoff O'dea is a partner in the London office of Freshfields Bruckhaus Deringer LLP. He has a broad range of experience in a number of transactions and product areas, including acquisition finance and general banking. He also has extensive experience in restructuring and insolvency matters, regularly advising creditors, debtors and insolvency practitioners particularly with respect to creditor schemes of arrangement.

Julian Long is head of the London corporate practice at Freshfields Bruckhause Deringer LLP, and is a public and private M&A specialist based in London. He also advises a number of listed companies on corporate governance, securities issuance matters and crisis management.

Alexandra Smyth is a senior associate in the London office of Freshfields Bruckhaus Deringer LLP, with experience in a wide range of corporate transactions, including public and private mergers and acquisitions, joint ventures and securities.

Consultant Editor: William Trower QC, Barrister, South Square, London

Consultant Editor: Andrew Thornton, Barrister, Erskine Chambers, London