Scheme of Arrangement
A scheme of arrangement is a formal restructuring process that is carried out under the supervision of the Court. It affords a corporation a period of time where no legal action can proceed against the corporation. The corporation can then proceed to prepare a scheme of arrangement, which must be voted on by the various classes of creditors. Where the requisite affirmative vote is obtained, the corporation can then proceed to implement the scheme. A scheme advisor and/or a manager is appointed to administer the scheme.
Our ADAMPRIMUS specialist is proficient in development schemes of arrangement that enable a company to strengthen its financial position and capitalise on its future growth potentials.
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