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Insolvency proceedings update
As filed · General Updates
DistressMixedCriticalmateriality 100 out of 100
What happened
FactAfter the Approved Resolution Plan is implemented. and dealt with in accordance with the Approved Resolution Plan. on and from the Trigger Date (as defined in the Approved Resolution Plan).
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
Watch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; +2 corroborating keywords; +5 quantified amount; +3 quantified percentage; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%