Schemes of Arrangement
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Description
Chapter 11 - The Two Court Hearings and Managing Meetings by Malcolm Oakes SC, was cited in the matter of Centro Properties Limited and CPT Manager Limited in its capacity as responsible entity of Centro Property Trust [2011] NSWSC 1465Schemes of Arrangement is a practical examination of the legal and commercial aspects of schemes of arrangement, for corporate restructuring in mergers and acquisitions and insolvency scenarios. All aspects of the scheme of arrangement are covered.In the mergers and acquisitions context, practical issues covered include the preparation of scheme documentation, the determination of classes, requirements for first and second court hearings, practical observance of s.411(17), valuations, and matters arising from the Corporations and Markets Advisory Committee's report from December 2009.In the insolvency setting, there is discussion of matters arising from the recent insolvencies of Sons of Gwalia, Opes Prime, Lehman Brothers and Lift Capital.Schemes of Arrangement includes a list summarising all schemes of arrangement in Australia between 2004 and 2010, referring to the court approval decisions from each hearing. A check list for a scheme of arrangement in a mergers and acquisitions context is also included.All royalties from this work are being directed towards the Indigenous Legal Scholarship program at the University of Western Australia, Law School.
AI Overview
The book "Schemes of Arrangement in Corporate Restructuring" is not authored by Kanaga Dharmananda, Anthony Papamatheos, and John Koshy. Instead, it is written by an expert author team at White & Case, led by Christian Pilkington. Here is a comprehensive overview of the book:
Key Themes
- Legal Principles: The book provides in-depth guidance on the legal principles underlying schemes of arrangement, which are a flexible mechanism for reorganizing a company's capital[2][4].
- Formal Procedures: It covers the formal procedures and practical issues that underpin the use of schemes in complex financial restructurings[4].
- Practical Issues: The book addresses key subjects such as jurisdiction, class composition issues, and foreign recognition, making it a practical guide for those involved in corporate restructuring[4].
- Case Studies: The book includes diagrams, flowcharts, and case studies to illustrate different types of schemes of arrangement and explain high-profile international restructurings[4].
Plot Summary
The book focuses on the English law scheme of arrangement, which is an established tool for complex financial restructurings, particularly when a consensual solution between all creditors is not possible. It discusses how schemes have become instrumental in restructuring overseas-incorporated companies, viewed as more efficient and "user-friendly" than local law alternatives[4].
Critical Reception
The second edition of "Schemes of Arrangement in Corporate Restructuring" has received positive reviews for its extensive new features, updates, and improvements. The expert author team ensures that even the most complex aspects of the subject are confidently navigated, making it an indispensable guide to schemes in corporate restructuring[4].
Editions and Updates
The book's second edition includes new features, updates, and improvements, ensuring it remains a comprehensive resource for those engaged in complex financial restructurings. The extensive updates reflect the evolving nature of schemes of arrangement and their increasing use in international restructurings[4].
In summary, "Schemes of Arrangement in Corporate Restructuring" by the author team at White & Case, led by Christian Pilkington, is a detailed guide that covers the legal principles, formal procedures, and practical issues related to schemes of arrangement. It is particularly noted for its practical focus and inclusion of case studies, making it a valuable resource for those involved in corporate restructuring.