“The court had no jurisdiction under Pt 26 of the Companies Act 2006 to sanction a scheme of arrangement which extended to the release of rights over property held by the company under a trust since it did not constitute a compromise or arrangement between the company and its creditors within s 899 of the 2006 Act.”
WLR Daily, 10th November 2009
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
