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News analysis: Scottish LIon - Sting in the tail

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    • Staff

    • Indicative reading time: 3 minutes

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Although the Scottish Lion appeal was a victory for creditor democracy, many legal arguments over solvent schemes of arrangement remain to be settled. Tim Goodger and Ed Stanley explain how the judgment places a heavy burden on scheme administrators to prove what they are doing is fair.

The decision by the Inner House Court of Sessions to overturn Lord Glennie's ruling on Scottish Lion effectively saved the day for schemes of arrangement — and anyone with an interest in them. Had the

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