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Analyzing the Adler Restructuring Plan Approval
The chapter explores the approval of the Adler restructuring plan by the English High Court, focusing on cross-class cram down conditions, challenges by creditors, expert evidence comparison, and the judge's consideration of valuation evidence before sanctioning the plan. It highlights the significance of fair treatment among creditors and the court's scrutiny of the plan's departure from established principles. The discussion also touches on recent judgments regarding cross-class cram down, the treatment of shareholders, and valuable guidance on valuation issues provided by Justice Snowden.