Virgin Active: Making Restructuring Plans Fit for the SME Sector

The Virgin Active Restructuring Plan was a landmark case, being the first to enact landlord compromises typically seen in a CVA and to be sanctioned by the court using cross-class cram down following a highly contested sanction hearing.

Whilst Restructuring Plans saw a slow initial uptake, as companies, advisors and creditors have begun to understand their flexibility and the associated legislation, their use has taken off over recent months.

As Virgin Active’s advisor, the Teneo team discuss the effectiveness, challenges and key learning points through the use of this innovative solution, alongside an open discussion of its future application to the mid-market.

Caroline Sumner, R3 newly appointed CEO will also provide some scene setting and insight towards the application of RPs to the mid-market.

Key Learning Outcomes

• An overview of the documentation required and timelines involved when launching a Restructuring Plan.
• A deep dive into the construct, challenges and benefits associated with the Virgin Active Plan.
• An open discussion around the future application of Restructuring Plans to the mid-market.

Speakers: