AGPS Bondco PLC (respondent) v Strategic Value Capital Solutions Master Fund LP & Ors (appellants)
Monday 23 – Wednesday 25 October 2023
By appellant’s notice filed on 16 May 2023 the Ad Hoc Group of 2029 Noteholders appeal the Order of Leech J dated 12 April 2023 in which he sanctioned the restructuring plan (The Plan) set out in the schedule to his Order and ordered that a copy of the Plan be delivered to the Registrar of Companies for England and Wales by the Plan Company.
Background – The appeal arises in the context of the Claimant’s, AGPS BondCo PLC (the “Plan Company”), restructuring plan (the “Plan”) under Part 26A of the Companies Act 2006 in respect of its indebtedness arising under six series of senior unsecured notes, governed by German law. There are two groups of creditors; SteerCo, who support the Plan and the Ad Hoc Group of 2029 Noteholders, who oppose it. It is the latter who now appeal.
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