What to Expect

The Virgin Active restructuring plan was a landmark case: the first to implement landlord compromises typically associated with a CVA and to be sanctioned by the court using cross-class cram down after a highly contested sanction hearing.

Although restructuring plans were initially adopted slowly, their use has accelerated as companies, advisers and creditors have become more familiar with their flexibility and the supporting legislation.

In this seminar, Virgin Active’s advisers from Teneo explore the effectiveness of the restructuring plan, the challenges encountered, and the key lessons from using this innovative solution, alongside discussion of how restructuring plans may be applied in the mid-market.

The session also provides context on the use of restructuring plans in the mid-market, including the documentation required, the likely timelines involved in launching a plan, the structure and benefits of the Virgin Active plan, and the future role of restructuring plans for SMEs.