Chancery Division of the High Court
CR-2025-005763 and CR-2025-005674 - [2025] EWHC 2318 (Ch)
Fecha: 02-Sep-2025
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Neutral Citation Number: [2025] EWHC 2318 (Ch)
Case No: CR-2025-005763 and CR-2025-005674
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
INSOLVENCY AND COMPANIES LIST (ChD)
Royal Courts of Justice, Rolls Building
Fetter Lane, London, EC4A 1NL
Date: Tuesday, 2 September 2025
Before:
Mr Justice Richards
Between:
IN THE MATTER OF SWS HOLDINGS LIMITED |
IN THE MATTER OF GREENSANDS FINANCING PLC |
AND IN THE MATTER OF THE COMPANIES ACT 2006 |
Mr D Bayfield KC and Mr R Perkins (instructed by Latham & Watkins LLP) for the SWS Holdings Limited
Mr W Willson and Mr E Lupi (instructed by Jones Day) for the MidCo Scheme Company
Mr J Curl KC for the PP Noteholders
Hearing date: 02/09/2025
JUDGMENT
- Heading
- Tuesday, 2 September 2025
- BACKGROUND AND OVERVIEW OF THE SCHEMES
- The MidCo Scheme
- COMPARATORS
- Comparator to the MidCo Scheme
- Comparator to the SWS Scheme
- Comparators – the approach I take
- THE MATTERS FOR CONSIDERATION
- Jurisdiction – The MidCo Scheme
- Adequacy of notice – SWS Scheme
- Adequacy of notice – MidCo Scheme
- Class Composition – The Law
- Class analysis – the SWS Scheme
- Class Composition – The MidCo Scheme
- Explanatory Statement
- Conclusions