Lawyers react to Virgin Active plan sanction decision
Does the restructuring plan give Goliath license to squash David? (Credit: Shutterstock.com/Mashosh)
A company voluntary arrangement on steroids, or a tool that gives Goliath license to squash David? Lawyers on the debtors’ and landlords’ side give their take on Virgin Active’s freshly-sanctioned restructuring plans: the first to compromise lease liabilities, with the most extensive cram-down seen to date.
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