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Law digests: 23 September 2022

23 September 2022
Issue: 7995 / Categories: Case law , In Court , Law digest
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Company

Re Nostrum Oil & Gas plc [2022] EWHC 2249 (Ch), [2022] All ER (D) 02 (Sep)

The Chancery Division allowed the application, pursuant to the Companies Act 2006 Pt 26, for an order sanctioning a scheme of arrangement (the scheme) between the applicant, the parent company of a corporate group which operates an oil and gas business in Kazakhstan, and its scheme creditors, a number of whom have been made the targets of EU, UK, and US sanctions as a result of the war in Ukraine. As such, those creditors were ‘sanctions disqualified persons’ who had been prohibited from dealing with the two unsecured notes to which the scheme relates. Among other things, the court held that: (i) even if the sanctions disqualified persons had been permitted to vote on the scheme, the statutory majority would have been obtained; (ii) although the scheme consideration would be held for the sanctions disqualified persons on bare trust until they ceased to be subject to sanctions, the scheme was ‘fair’ as it is not

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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
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