Our work
FRP conducted the relevant alternative valuation analysis for three recently sanctioned plans in which the valuation evidence has been accepted without challenge. By recognising the importance of: exploring a variety of potential alternatives; providing both in-depth and detailed analysis; and submitting robust, self-explanatory reports – our work has helped the plans to be sanctioned and the companies involved to rebase and advance from a position of strength.
Where next for the RP?
The RP is becoming a go-to toolkit in UK corporate restructuring and remains a fascinating arena as application and case law evolve. Broader developments from recent cases include: 1. Judges using the benefit of Discretion to reject plans even if conditions A (no party worse off) and B (agreed by a party with economic interest) have been met. 2. HMRC emerging as uniquely positioned creditor class, with the concept of Fairness providing a potential defensive mechanism. 3. Application in the mid-market, with mixed results. The valuation function will remain integral to the success of RPs going forward, building upon experience from the journey so far and adapting as required to address emerging themes.
Valuation services
CIGA Restructuring Plan
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