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High Court sanctions a proposed scheme of arrangement between the company and certain of its members, on the grounds that: (a) the Court was satisfied that all of the five requirements necessary for the court to approve a scheme of arrangement were fulfilled; (b) the proposed scheme was not ultra vires; and (c) the scheme was fair and equitable.
Application for orders under section 453 of the Companies Act 2014 ("the Act”) in Part 9 of the Act sanctioning a proposed scheme of arrangement between the Company and its shareholders - company law - Commercial Court - Brexit - the Company has eight separate funds which operate on the London Stock Exchange - it will not be able to access the current securities deposit model after the transition period following the UK's decision to leave the European Union - the Company is proposing to adopt an international centralised securities depositary model of settlement for all the relevant funds which is domiciled within the EU and so remains available to the Company, and which it is expected will provide for more streamlined, centralised settlement - whether the Company complied with the five required factors necessary for the application - whether the application was ultra vires - scheme sanctioned.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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