*Re Welcome Financial Services Ltd

Practice – Companies. The company and the administrators of the scheme (the applicants) sought declarations concerning the proper construction of a scheme of arrangement in respect of the company and its parent. Following the passage of the 'Bar Date', there were two main groups of people who thought might have claims, were those who had lost money investing in shares in the parent company and customers who had been mis-sold payment protection insurance (PPI). The Chancery Division (Companies Court) made various declarations on the basis of whether the respondents were creditors of the scheme.