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Company – Scheme of arrangement. The Companies Court, on Codere Finance (UK) Ltd's application for an order sanctioning a scheme of arrangement, held that both the formal requirements for sanctioning the scheme had been met and, in all the circumstances, it was appropriate to exercise the discretion to sanction the scheme. In the circumstances, it could not be seen that the fact that the company had been acquired only recently, and with a view to invoking the scheme jurisdiction, should cause the court, in the exercise of its discretion, to decline to sanction the scheme.
Company – Scheme of arrangement. The Companies Court, on Codere Finance (UK) Ltd's application for an order sanctioning a scheme of arrangement, held that both the formal requirements for sanctioning the scheme had been met and, in all the circumstances, it was appropriate to exercise the discretion to sanction the scheme. In the circumstances, it could not be seen that the fact that the company had been acquired only recently, and with a view to invoking the scheme jurisdiction, should cause the court, in the exercise of its discretion, to decline to sanction the scheme.
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