The English High Court has exercised its cram down power and sanctioned the Part 26A restructuring plans proposed by four of Cineworld’s UK operating companies, in face of significant opposition from its landlord creditors, including a novel injunction application by two landlords to exclude their leases from the plans. In sanctioning the plan, Cineworld’s UK Group avoided administration at the end of September.

Key Takeaways

While it did not focus on bankruptcy relief, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act contained provisions relating to small bankruptcy debtors.