The Chancery Division sanctioned a restructuring plan under Pt 26A of the Companies Act 2006 in respect of a company. The company's business was the provision of property management services for short term/holiday lets. It was severely affected by the Covid-19 pandemic. It was both cash flow and balance sheet insolvent. Three creditors had threatened winding-up petitions, and the company was not in a position to pay the debts claimed by them. If the restructuring plan did not proceed, then there would most likely be an accelerated marketing process leading to a sale in administration (i.e. a pre-pack administration). The court held, among other things, that if it refused to sanction the plan, then the evidence indicated that all creditors, including HMRC, would be worse off. Therefore, the judge exercised his discretion to sanction the plan.