With APCOA Parking, the English High Court sets out the latest line of authority in the increasing use of schemes of arrangement by foreign companies.
This case, APCOA Parking (UK) Limited & Ors [2014] EWHC 997 (Ch), presents two novel aspects:
Intercreditor Agreement in ION Media requires Second Lien Lenders “Be Silent” — precludes challenge to validity of liens; deprives junior creditors of standing to object to plan of reorganization.
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