On 15 August 2022, Deputy Master Arkush handed down judgment in the case of Oceanfill Limited v Nuffield Health Wellbeing Limited and Cannons Group Limited [2022] EWHC 2178.
The case, which arises out of Virgin Active Limited’s restructuring plan under Part 26A of the Companies Act 2006, is relevant to real estate investors and their lenders. Part 26A was one of the measures introduced under the Corporate Insolvency and Governance Act 2020 to facilitate the rehabilitation of businesses affected by the COVID-19 pandemic.