There has been continued growth in companies incorporated outside England using the scheme of arrangement regime contained in the UK Companies Act 2006 to restructure debts governed by English law. But in what circumstances should the debtor also initiate a parallel (or mirror) scheme in the debtor's home jurisdiction under its own local law?
The purpose of this article is to explore the use of parallel schemes of arrangement, taking in particular the example of a Jersey company with English law governed debts and operations worldwide.
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Originally published in International Corporate Rescue.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.