Introduction

Hildyard J’s recent sanctioning of the scheme of arrangement proposed by PrimaCom Holding GmbH (‘’PrimaCom’’), a German incorporated company whose creditors were domiciled outside of the UK, has reaffirmed the extra-territorial jurisdiction of the English courts in respect of schemes of arrangement and confirmed their status as a useful instrument for foreign companies looking to restructure¹.  

The process

In Masri v Consolidated Contractors International Company SAL and another – Butterworths Law Direct 4.4.08 the principal issues on the appeal were whether the Commercial Court had international jurisdiction to make an order for the appointment of a receiver by way of equitable execution, and a freezing order, and whether a receivership order could be made by way of equitable execution in relation to future debts.