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Company Law

Analysis - guidance - compliance

28 JAN 2014


Chancery Division

David Richards J

7 November 2013

The court sanctioned a scheme of arrangement between 13 companies in an international corporate group and the group's finance creditors


[1]        This is an application for sanction of a scheme of arrangement between thirteen companies and all or most of their finance creditors. One company is incorporated in England and Wales, five in Germany, two in Italy, two in France, one in the Netherlands and two in the United States. All companies are members of the same Group which is a leading international manufacturer and supplier of building materials for bitumens, chimneys and energy systems. It operates in over forty countries, principally in Europe and Asia, and it has approximately 8,000 employees worldwide.

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