Practice Statement from the Chancellor of the High Court: Part 26 of the Companies Act 2006
Chancellor of the High CourtHigh CourtSir Julian FlauxPractice Guidance
Following receipt of responses to the consultation launched on 9 May, the Chancellor of the High Court, the Rt. Hon. Sir Julian Flaux, has published an updated Practice Statement in respect of Schemes of Arrangement and Restructuring Plans under the Companies Act 2006.
The Chancellor is grateful for the many considered responses received.
A number of changes have been made to the original draft to reflect those responses. Practitioners will wish to note the following points in particular: (i) members’ schemes of arrangement are excluded from the machinery in paragraphs 6 and 7 which requires a claim form to be issued before a hearing date can be obtained; (ii) in other cases the Practice Statement makes clear that the requirement to issue a claim form is subject to rules of Court which allow orders to be made restricting access to the Court file and for anonymisation where appropriate; (iii) the status of the listing note is clarified (para. 7) – this is intended primarily to be an internal document for the Court, to be used as a tool in listing and case management in the early phases of any new claim; and (iv) guidance is given as to timings for the filing and service of materials for convening hearings (paras 17, 20 and 21).
The Practice Statement will apply in all cases where an application for a meetings order is to be dealt with at a convening hearing listed on any date on or after 1 January 2026 (see para. 29).