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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

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

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Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
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