Vol 15 (2018) - Issue 2

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Re Algeco Scotsman PIK S.A. [2017] EWHC 2236 (Ch)

In this case, Mr Justice Hildyard sanctioned a cross-jurisdictional scheme of arrangement in relation Algeco Scotsman PIK SA (the 'Company') under Part 26 of the Companies Act 2006. At the beginning of his ex tempore judgment, echoing the words of Snowden J in Re Van Gansewinkel Groep B.V [2015] EWHC 2151 (Ch) at [6] with regard to the Court’s function on a sanction hearing, Hildyard J noted that it was important in the context of a cross-jurisdictional scheme for the court to explain "why it is proceeding so that any other court can both understand the approach of the English Court and also can see and be reassured that the function of the court in the context of schemes is not a ministerial or rubber-stamping one; it is to consider the scheme diligently, and to seek to identify and address any 'blots' on the scheme and any jurisdictional or enforcement problems, whether or not the scheme is the subject of opposition".