SwierczokDas englische Scheme of Arrangement und seine Rezeption in Deutschland

English solvent Schemes of Arrangement under the Companies Act Part 26 (Sections 895-900) have proved to be a more and more popular restructuring device for non-English companies. Thus, for instance, recently three German companies, namely, Tele Columbus, Rodenstock and Primacom, which were all financially distressed but solvent, have restructured themselves via an English solvent Scheme of Arrangement. However, from a legal perspective, what is very remarkable in all of these three cases is the fact that the English courts did not demand a shift of the companies? seat or COMI for the application of the Scheme of Arrangement. This „light-touch” approach, though, leads to significant and very contentious jurisdiction and recognition issues, which the following thesis seeks to address.