http://glassdoor.com/slink.htm?key=vQkQ7 How Are Businesses Really Treating Employees During COVID-19?Cash Bonus, Stock Bonus, Profit Sharing, Commission Sharing, Tips have not been reported for this role 10 Highest Paying Entry-Level Jobs in the UK 7 Great Companies for Career Development What It’s Really Like to Work at Some of the World’s Most Iconic Brands 8 Companies Offering Seriously Good Financial Benefits Meet Nicola, one of our Senior Merchandisers! Companies that would otherwise be unable implement corporate actions due to unanimous consent requirements under their finance documents may be able to use schemes to effect such actions if: (i) they can obtain the support of a statutory majority (>50% in number and ≥75% in value of creditors voting in person or by proxy) of each affected class of creditors; and (ii) the scheme is sanctioned by the court. We use cookies to deliver our online services. This estimate is based upon 1 Matalan Retail Cash Administrator salary report(s) provided by employees or estimated based upon statistical methods. About the Role We’re looking for an Imports / Customs Administrator Apprentice to join the team here in Knowsley. Details of the cookies and other tracking technologies we use and instructions on how to disable them are set out in our Whether or not a scheme will trigger a Restructuring Credit Event will also depend on the specific facts and circumstances of the scheme. Practice Leader Business Restructuring & ReorganizationIn considering the Thomas Cook case, the DC placed great emphasis on the fact that the company did not seek a stay of proceedings in the United States and that the Chapter 15 petition did not otherwise seek to compromise creditor rights independent of the scheme. Matalan did not seek to waive the automatic stay that would apply if recognition of the scheme were granted in the Chapter 15 proceeding. français The key purpose of the scheme, which was proposed as part of a wider balance sheet restructuring of the company, was to amend the terms of the company's 9.5% second lien secured notes to defer cash interest to payment-in-kind interest. The filing of a Chapter 15 petition commences a proceeding seeking relief under a bankruptcy law (the U.S. Bankruptcy Code) and triggers a Bankruptcy Credit Event under the 2003 Definitions. Given that the scheme involved a deferral of interest (one of the enumerated types of events that may constitute a restructuring) that was binding on all holders of the second lien notes, the key question for the DC would have been whether the modification resulted from a deterioration in the creditworthiness or financial condition of the company. Matalan Scheme and Chapter 15 Like Thomas Cook, Matalan Finance Plc ("Matalan") also proposed a scheme of arrangement. As in the case of Matalan, a company that has multiple outstanding financial obligations and implements a scheme that impacts only certain of those obligations would be unlikely to constitute a scheme or arrangement with its creditors generally. However, the DC has effectively acknowledged that a one-size-fits-all approach cannot be taken in respect of English schemes. The questions before the DC under the 2003 Definitions were fairly straightforward in connection with the Thomas Cook and Matalan Chapter 15 filings. On this basis, the DC considered that the relief sought in the United States was limited and did not constitute relief "similar" to that of a judgment of insolvency or bankruptcy. While many scheme applications will include an admission that a default or insolvency is imminent if relief is not granted, as illustrated by Thomas Cook and Matalan, that will not always be the case.