On 18 October 2021, the EU Commission published the sixth amendment to its Temporary Framework for State aid measures to support the economy in the COVID-19 outbreak (the Temporary Framework) adopted on 19 March 2020 (see our blog post).
European Union, Insolvency & Restructuring, Public, Trade & Customs, Freshfields Bruckhaus Deringer, State aid, Coronavirus, European Commission
The High Court yesterday held that a Chairperson of a shareholder scheme meeting may reject votes cast against a scheme of arrangement in circumstances where the shares were acquired through an artificial share-splitting exercise designed to frustrate the scheme. It is the first English case to consider this issue and while it arose in the context of a shareholder scheme, the impact is also significant for debt restructurings implemented by way of a creditor scheme of arrangement.
Background
United Kingdom, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, Share (finance), Shareholder