Schemes of Arrangement

A Scheme of Arrangement is a legal process that allows a company and its creditors or shareholders to agree on restructuring its affairs, such as debt repayment or merging with another company. It involves a formal proposal approved by a court and the involved parties, ensuring a fair and binding arrangement. This process helps companies manage financial difficulties or reorganize operations while providing legal protection and clarity to everyone involved. Think of it as a mutually agreed plan approved by the court to make necessary changes in a company's structure or finances.