The English High court has approved a scheme of arrangement for a company incorporated in Germany which had its centre of main interests in Germany, no establishment in the UK and no assets in the UK likely to be affected by the scheme.

This case is one of a number of recent cases where restructurings of foreign companies have been effected by English schemes of arrangement.  The court set out its reasoning in this case in some detail in view of the possibility that the European Court of Justice would consider some of the relevant issues in a forthcoming appeal in another case.

For an explanation of how the court was satisfied that there was jurisdiction to sanction the scheme click here.