The recent sanction judgment gives important guidance on the way in which the court’s discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own .
Key takeaways from the judgment
No worse off test: expert evidence
- An opposing party is not required to produce its own expert evidence to raise a successful challenge to the valuation analysis put forward by the company proposing a plan. Given the likelihood of valuation disputes, proposers of plans will therefore need to consider the justification of assumptions made in valuation reports in detail to ensure the court can be satisfied, even if no alternative is put forward.
Fai…
Read the full article at: https://www.shoosmiths.co.uk/insights/articles/points-to-learn-from-the-high-courts-decision-in-the-great-annual-savings-company-restructuring-plan