Skip to content
Virgin Active, Hurricane Energy and the future of the cross-class cramdown

Virgin Active, Hurricane Energy and the future of the cross-class cramdown

Publications
22 July 2021
Related people
Marshall Jennifer
Jennifer Marshall

Partner

London
Valintine Hannah
Hannah Valintine

Partner

London
Image of Nick Lister
Nick Lister

Partner

London

Headlines in this article

Related news and insights

Publications: 03 April 2024

The growing role for CLOs in restructurings

Publications: 28 February 2024

Digital M&A runs into antitrust hurdles with consumer, life sciences, transport and energy deals also targeted

News: 05 February 2024

Allen & Overy advises the Emerging Africa Infrastructure Fund (EAIF) on Zambia's first listed green bond

Publications: 29 January 2024

Global Restructuring 2024: Managing transition

In this alert, we look at the recent Virgin Active and Hurricane Energy restructuring plans. Stakeholders should continue to see the restructuring plan as an important tool for the implementation of complex restructurings.
Download alert

The UK restructuring plan was introduced in June 2020 as part of the sweeping changes made to the insolvency and restructuring landscape by the Corporate Insolvency and Governance Act 2020 (see our summary bulletin here).

We are seeing the new plan used in practice. Allen & Overy is extremely proud to have advised Virgin Atlantic Airways on the first-ever successful restructuring plan and Virgin Active on one of the earliest successful cross-class cramdown restructuring plans.

Please get in touch with any of the contacts listed should you have any questions.

 

Related expertise