Approval of a scheme of arrangement for Dutch company with New York law debts (High Court) | Practical Law

Approval of a scheme of arrangement for Dutch company with New York law debts (High Court) | Practical Law

In Re Magyar Telecom B.V. [2013] EWHC 3800 (Ch) (3 December 2013) the High Court considered a scheme of arrangement in respect of a company incorporated and registered in the Netherlands whose main business was the operation of telecommunications services in Hungary. The company's centre of main interests was in England and its debts were governed by New York law. The court considered the requirements that the company should have a sufficient connection with the English jurisdiction and that the scheme would achieve its purpose, as well as the Judgments Regulation.

Approval of a scheme of arrangement for Dutch company with New York law debts (High Court)

by Practical Law Restructuring and Insolvency
Published on 05 Dec 2013 • England, Wales
In Re Magyar Telecom B.V. [2013] EWHC 3800 (Ch) (3 December 2013) the High Court considered a scheme of arrangement in respect of a company incorporated and registered in the Netherlands whose main business was the operation of telecommunications services in Hungary. The company's centre of main interests was in England and its debts were governed by New York law. The court considered the requirements that the company should have a sufficient connection with the English jurisdiction and that the scheme would achieve its purpose, as well as the Judgments Regulation.