The Part 26A Restructuring Plans (the "Plans") proposed by each of Virgin Active Holdings, Virgin Active Limited and Virgin Active Health Clubs Limited (the "Plan Companies") have been sanctioned by the court. This decision has been eagerly anticipated by the restructuring and insolvency market, struggling tenants and the beleaguered landlord community.

Introduction

In R (on the application of KBR, Inc) (Appellant) v Director of the Serious Fraud Office (Respondent) [2021] UKSC 2¹ the Supreme Court held that the Serious Fraud Office ("SFO") may not compel a foreign company to produce documents held overseas under section 2(3) of the Criminal Justice Act 1987 ("CJA 1987").

Today, the Financial Services Authority (FSA) published Final Notices for Christchurch Investment Management Limited (Christchurch) and the firm's compliance officer, David Thornberry, for breaches of the FSA's client money rules (CASS rules).