AG Erotocritou LLC updates

 
Schemes of arrangement and recent statutory amendments
AG Erotocritou LLC
  • Insolvency & Restructuring
  • Cyprus
  • 04 January 2019

Schemes of arrangement have advantages over other insolvency procedures. For example, they offer a flexible, operational, creative and simple mechanism for restructuring debt and allow companies in financial distress to continue as going concerns. Recent statutory amendments have reduced the required statutory threshold for approving a scheme of arrangement and eliminated the requirement to secure a special majority of 75% in both value and the number of creditors present and voting.

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