A rescue scheme to prevent the Las Iguanas restaurant operator from entering administration is approved by a judge in the High Court in London. Sources report that Mr Justice Meade sanctioned the proposed plan following a High Court hearing held at the end of the proceedings. The decision is described as a step intended to keep the business operating and manage its financial difficulties through the approved arrangement.
The available reporting indicates that the court approval follows the legal process required for such schemes, with the sanction granted at the conclusion of the hearing. While details of how the plan would work operationally are not included in the provided excerpts, the articles agree that the High Court approval is the key milestone in the process. With the sanction in place, the company’s next steps would be to move forward with whatever terms are set out in the rescue scheme and related documentation, subject to the completion of any remaining procedural requirements.
