Want to create an interactive transcript for this episode?
Podcast: Octus Radio
Episode: EMEA Covenants: The New Part 26A Tool in Practice; Increasing Scheme Challenges by Creditors
Description: 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.
If you are not a Reor...