A restructuring plan may well be a very effective way of restructuring a foreign company. It has several advantages over a scheme of arrangement and with a relatively low entry threshold, the English court has already sanctioned at least one plan for a foreign company in the relatively short time that it has been available. Introduced in 2020, the English restructuring plan offers foreign companies looking to restructure, flexibility and options that might not be available in their local jurisdiction.
We have produced an alert, explaining when a foreign company can use the English process to restructure, the advantages of a restructuring plan and examples illustrating when foreign companies have successfully restructured in England.