Reorg’s Head of EMEA Covenants Shweta Rao speaks to Senior Legal Analyst Shan Qureshi about:

How the cross-class cramdown tool in the new Part 26A works in practice, with debtors able to bind whole classes of dissenting creditors to their plans;

How the usefulness of the Part 26A plan has been curtailed across Europe due to Brexit and English Courts’ interpretation of the tool’s application - local law recognition procedures across Europe will need to be examined on a case-by-base basis; and

How both schemes and part 26A plans are hard to successfully challenge.

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