Barry Russell

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court's decision sanctioning the Adler restructuring plan.1 This is the first Court of Appeal judgment to consider a restructuring plan and the scope of the cross-class cram down power following the introduction of restructuring plans in 2020.

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court’s decision sanctioning the Adler restructuring plan1. This is the first Court of Appeal judgment to consider a restructuring plan and the scope of the cross-class cram down power following the introduction of restructuring plans in 2020.

In this edition of Restructuring Watch, we reflect on the first court decision on the moratorium procedure, some recent schemes and restructuring plans, the lifting of the remaining pandemic-related restrictions for commercial landlords alongside the introduction of the Commercial Rent (Coronavirus) Act 2022 and an extension of the UK directors' disqualification regime.