Schemes of Arrangement

Schemes of arrangement are an important and flexible mechanism, which can be used to reorganise a company's capital. They have undergone something of a renaissance since the global financial crisis, particularly as a debt restructuring device, since effective tools were needed to deal with financial distress. Schemes have also become the mechanism of choice for recommended takeovers.

In order to understand their current popularity, this book examines the use of both member and creditor schemes, and compares their advantages and disadvantages to the alternatives that are available. It performs a critical, contextual and comparative analysis of schemes and their uses, and puts forward reform proposals that are designed to ensure that schemes continue to develop as an indispensable tool for companies for the future.

-Puts forward a rigorous academic analysis which considers not just how schemes of arrangement work and the form of transactions undertaken, but also the policy considerations underlying these transactions
-Provides the reader with a deeper understanding of the theoretical and policy background, and considers possible areas of reform
-Undertakes a comparative analysis of overseas jurisdictions that have adopted the English scheme of arrangement and some of the functional equivalents adopted elsewhere