Sanctioned: Virgin Active's Restructuring Plans
By EsqSocial Corporation 18/05/21
On 12 May 2021, the High Court sanctioned three inter-conditional restructuring plans, under the Part 26A of the Companies Act 2006, for certain English subsidiaries of the Virgin Active group, despite major opposition of certain landlords. In the landmark decision, the High Court exercised its discretion to cram-down multiple classes of dissenting landlords in each plan, compromising their claims......
By: Morrison & Foerster LLP