Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Part 26A restructuring plan definition

What does Part 26A restructuring plan mean? A court‑supervised tool to restructure a distressed company’s liabilities by compromising creditor and/or member rights to restore viability. It is the statutory “restructuring plan” in Part 26A of the Companies Act 2006, introduced by the Corporate Insolvency and Governance Act 2020. The company must have encountered, or be likely to encounter, financial difficulties affecting its ability to carry on business as a going concern, and the plan must address those difficulties. Creditors and members vote in classes at court‑convened meetings. Approval requires at least 75% in value of each approving class; there is no headcount (numerosity) test. Crucially, the court may sanction...

Part 26A restructuring plans: UK case tracker and key fairness, CCCD and NCWO principles (2020–2025)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Part 26A restructuring plans have been in place since 26 June 2020 (see Practice Notes: Part 26A restructuring plans: history, rationale and scope and Frequently asked questions (FAQs) on the restructuring plan). For an in-depth review of key metrics from 2024 RPs and commentary from leading figures in the restructuring community, see News Analysis Market Insights Trend Report-trends in Part 26A restructuring plans in 2024.

Case tracker

Notable Part 26A restructuring plan (RP) cases heard by the courts in England (and Scotland) include the following, shown with the most recent first:

Waldorf Production UK Plc - 5 May 2026 (sanction hearing, second plan); Mr Justice Michael Green. Despite numerous objections from the dissenting creditor, HMRC, the court applied cross class cramdown and sanctioned the plan, thereby dismissing the challenge on jurisdiction to cram down HMRC: HMRC contended that where it had refused to support a plan, the court should attach weight to that and be slow to compel HMRC to be bound by the RP. The judge rejected this, concluding there was little doubt that there is no jurisdictional bar to the court exercising its...

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Web page updated on 27/05/2026

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