Jurisdiction(s):
United Kingdom

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

Schemes and Part 26A restructuring plans: lock-ups, consent and incentive fees, and when payments fracture the class—principles and case law

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Courts have concluded that case law on schemes is equally relevant to restructuring Plans on certain matters (see Re PizzaExpress (convening) and Re Virgin Atlantic), including lock-up arrangements and consent Fees, albeit different considerations may arise where cross-class cramdown (CCCD) is invoked. For a fuller review of key metrics from RPs filed in 2024—such as the quantum of any consent fee—and commentary from leading figures in the restructuring sphere, see News Analysis: Market Insights Trend Report—trends in Part 26A restructuring plans in 2024...

Timing

In most instances, there is unlikely to be a class issue where a company advancing a scheme or restructuring plan enters into an agreement with creditors to vote in favour of it (ie a Lock-up agreement) (see Re Telewest Communications) or secures an irrevocable undertaking to approve it (see Re Vietnam Shipbuilding Industry Group) in return for a fee, provided the offer is made to all creditors. This is subject to the following principles:

any payment made under the voting arrangement must not be intended to purchase the creditors’ votes...

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Web page updated on 21/05/2026

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