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Reorg Radio
Expert Views - Unpacking the Adler Court Victory - A New Rulebook for Part 26A.
Feb 6, 2024
Industry experts dissect the Adler Court Victory, discussing the overturning of the restructuring plan sanction and its implications on the industry. Topics include cross-class cram down conditions, challenges by creditors, expert evidence comparison, time pressures in Part 26A proceedings, and the impact of court rulings on restructuring challenges.
29:50
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Quick takeaways
- English restructuring plan requires meeting threshold conditions and considering cross-class creditor interests for financially struggling companies.
- Court of Appeal's successful appeal on Adler's plan emphasized fair distribution across creditor classes aligning with insolvency principles.
Deep dives
Adler Restructuring Background and Purpose
Adler, a German real estate group, faced liquidity issues due to asset value allegations and market decline. The restructuring plan aimed at a controlled wind-down, extending 2024 notes maturity and providing new money repayments priority.
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