Practice Statement from the Chancellor of the High Court: Parts 26 and 26A of the Companies Act 2006 – reaction from Lisa Linklater KC
September 23, 2025
Lisa Linklater KC, a specialist insolvency and restructuring silk at Exchange Chambers, has welcomed the Chancellor of the High Court’s updated Practice Statement in respect of Schemes of Arrangement and Restructuring Plans under the Companies Act 2006.
Following receipt of responses to the consultation launched on 9 May, a number of changes have been made to the original draft. The Practice Statement will apply in all cases where an application for a meetings order is to be dealt with at a convening hearing listed on any date on or after 1 January 2026 (see para 29).
Commenting on the updated Practice Statement, Lisa Linklater KC said:
“The Chancellor of the High Court, the Rt. Hon. Sir Julian Flaux, launched a consultation on 9 May 2025 in relation to a replacement for the Practice Statement (Companies: Schemes of Arrangement under Part 26 and Part 26A of the Companies Act 2006) dated 26 June 2020.
“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 since their introduction during the Covid pandemic, with a view to improving the efficiency and fairness of the process under Part 26A.
“I welcome the Chancellor’s updated Practice Statement and the clarity it provides to businesses and practitioners in the field as to what is expected by and assists the court and the efficiency of the proceedings at each step of the process. Taken together, these measures represent an important step in ensuring that the court’s time and resources are allocated proportionately in this important and dynamic area of restructuring.”
The updated Practice Statement is published here:
