In a timely update to the UK’s restructuring toolkit, the Chancellor of the High Court Sir Julian Flaux has issued a revised Practice Statement (2025 PS) on Schemes of Arrangement under Part 26 and Restructuring Plans (RPs) under Part 26A of the Companies Act 2006. Published on 18 September 2025, this document replaces the current 2020 version and applies to cases where convening hearings are listed on or after 1 January 2026. Coming amid a surge in financial restructurings driven by economic headwinds, rising interest rates, and post-pandemic debt maturities, the 2025 PS aims to modernise procedures, enhance efficiency, and address judicial bottlenecks highlighted in recent high-profile cases like Adler Group, Thames…
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