The insolvency boom year of 2008 did not see any major developments on the use of schemes of arrangement as a restructuring tool. But the law on scheme of arrangement is probably unlikely to remain stagnant for long. Now contained in Pt 26 of the Companies Act 2006 (‘CA 2006’), the scheme of arrangement provisions are virtually unchanged from the former Part XIII of the Companies Act 1985. It is high time to review the court’s jurisdiction to sanction a scheme.

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