Schemes of arrangement have become the tool of choice to secure deals in an insolvency market grown increasingly complex and fractious. Freshfields’ Ken Baird and Catherine Balmond chart their rise
It is an irony of the current economic downturn that a corporate law rather an explicitly insolvency-related procedure has become such a key restructuring tool. A scheme of arrangement is a court-sanctioned compromise that can be used to alter the rights and obligations of the scheme company and its creditors and/or members or any class of them.
