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JUDGE JONATHAN RICHARDS Sitting as a Deputy Judge of the High Court ____________________
Patrick Lawrence QC and Peter Morcos (instructed by Needle Partners Limited) for the Claimant Robert-Jan Temmink QC and Tom Nixon (instructed by Teacher Stern LLP) for the Defendant Hearing date: 12 to 19 May 2021 Draft judgment circulated: 7 June 2021 ____________________
i) The definition of "arrangement" is inclusive. It includes the schemes under part 26 of the Act and under s110 of the Insolvency Act 1986 that will be familiar to company law and insolvency practitioners, but it is not limited to such schemes.
ii) Since, by s594(6)(b), Company B can be a "body corporate", as well as a "company", it follows that the conditions of s594 can be met even if Company B is incorporated outside the UK.
iv) OFSB held 3,960,000 "A ordinary shares" of RM 100 each (the "A Shares") being the shares issued as consideration for OFSB's acquisition of the VTEL shares
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