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English restructuring plans: Lessons from Petrofac and Waldorf
The Court of Appeal's overturn of the Petrofac restructuring plan and the subsequent High Court rejection of the Waldorf plan have sent shockwaves through the restructuring market. Both cases raise hard questions about what constitutes a fair allocation of restructuring value, and what evidence companies need to justify it. For anyone considering the restructuring plan as a tool, these judgments demand close attention.
London Restructuring partners Katrina Buckley, Karen McMaster and Tim Watson, together with Restructuring Senior Knowledge Lawyer Chris Poel, are joined by Lisa Rickelton…
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