Consultation on the Practice Statement for schemes of arrangement under Part 26 and restructuring plans under Part 26A of the Companies Act 2006

The Chancellor of the High Court, the Rt. Hon. Sir Julian Flaux, is today launching a consultation in relation to a replacement for the current Practice Statement (Companies: Schemes of Arrangement under Part 26 and Part 26A of the Companies Act 2006) dated 26 June 2020.

The existing Practice Statement was issued when Part 26A was introduced during the COVID pandemic. Although the Practice Statement applies to both schemes of arrangement under Part 26 and restructuring plans under Part 26A, the primary aim is to revise the Practice Statement to take account of nearly five years’ experience of the use of restructuring plans, with a view to improving the efficiency and fairness of the process under Part 26A.

The draft replacement Practice Statement can be viewed below as a Word document and downloaded as a PDF.

Interested parties are invited to submit their comments on the draft by email to: [email protected]
All submissions will be treated in confidence.

The closing date for receipt of submissions is Friday 13 June 2025.

The intention is that the replacement Practice Statement will be issued in early September 2025.