|Source:||All England Reporter|
|Publisher Citation:|| All ER (D) 101 (Aug)|
|Neutral Citation:|| EWHC 2114 (Ch)|
|Representation||Robin Dickers QC and Richard Fisher (instructed by Latham & Watkins (London) LLP) for the companies.|
|David Chivers QC and Stephen Horan (instructed by Gide Loyrette Nouel LLP) for the Mezzanine Co-ordinating Committee.|
|Gabriel Moss QC and Adam Al-Attar (instructed by Lovells LLP) for the Senior Steering Committee.|
|Judgment Dates:||11 August 2009|
Company - Scheme of arrangement - Compromise with creditors or members - Group of companies taking senior debt and subordinated debt - Intercreditor agreement subordinating subsidiary company debt to parent company debt - Companies balance sheet insolvent - Proposing group restructuring between group and senior lender - Application for sanction of scheme of arrangement - Junior lenders opposing scheme of arrangement - Whether unfair prejudice - Whether economic value in companies exceeding senior debt - Whether group directors in breach of duty towards junior lenders.