Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Scheme of Arrangement definition

What does Scheme of Arrangement mean? A court‑supervised compromise or arrangement used to restructure a company’s debt, share capital or ownership by binding creditors or members (grouped into classes) to an agreed proposal. In the UK it is a statutory procedure under Part 26 of the Companies Act 2006; in Ireland it is provided for in Part 9, Chapter 1 of the Companies Act 2014. Common uses include debt restructurings, solvent reorganisations and public takeovers. Process: the court orders meetings of each class, reviews class composition, and, if the requisite majorities approve, considers whether to sanction the scheme. At each meeting the threshold is a...

Creditor Scheme of Arrangement Template (Part 26 Companies Act 2006, England and Wales): Claims Submission, Expert Determination, Set-Off, Security and Dividends

Published by a LexisNexis Restructuring & Insolvency expert

Precedents

(pursuant to Part 26 of the Companies ACT 2006 of Great Britain)

Between [ insert name of Company ] and its Scheme Creditors (as defined in the Scheme of Arrangement). Dated [ insert date ]

1 Definitions and Interpretation

For the purposes of the Scheme, unless the context dictates otherwise or an express provision states differently, the following terms have these meanings:

Act – refers to the Companies Act 2006 of Great Britain;
Admissible Interest – denotes any interest provided for under a contract, any relevant statute, or any other applicable law or judgment;
Admitted Claim – signifies the balance, if any, remaining due from the Company to a Scheme Creditor under clause 10.1 after applying set-off pursuant to clause 11.1;
Agreed Claim – the amount determined as owed by the Company in respect of a Scheme Creditor’s Claim in accordance with clause 8;
Available Distributable Amount – the sum available for payment by the Company to its Scheme Creditors pursuant to clause 13;
Board – means the Company’s board of directors from time to time;
Business Day – any day other than Saturday, Sunday, or any other day on which banks in the City of London...

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Geraldine Quirk

Bryan Cave Leighton Paisner

Gerry has over 15 years’ experience advising clients in the insurance sector on a broad range of non—contentious issues. Gerry is one of the leading experts on portfolio transfer schemes, particularly in the legacy/run-off industry, and has developed a reputation as one of the ‘go to’ lawyers in this area. She is also a regulatory expert, advising on Solvency II, perimeter guidance, governance and conduct....

Web page updated on 22/05/2026

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