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Restructuring HMRC Creditors

Paul Hastings LLP

English Court Approves Enzen Part 26A Restructuring Plans in First Case With HMRC Active Support

Paul Hastings LLP on

On 25 March 2025, the English Court approved the interconditional dual restructuring plans of Enzen Global Limited and Enzen Limited (Enzen). The plans amend and extend £50 million senior secured liabilities, provide for new...more

Hogan Lovells

HMRC 2: 1 debtor - English Court refuses to sanction Nasmyth’s restructuring plan cramming down HMRC

Hogan Lovells on

Following active opposition by HMRC, on 28 April 2023 the English High Court (Mr Justice Leech) refused to sanction a restructuring plan under Part 26A of the Companies Act 2006 between Nasmyth Group Limited (“Nasmyth”) and...more

K&L Gates LLP

COVID 19: UK Insolvency Reform – Crown Preference Returns From 1 December 2020

K&L Gates LLP on

EXECUTIVE SUMMARY - On a UK company’s insolvency, the UK tax authority (HMRC) will become a preferential creditor in respect of certain unpaid taxes (Crown Preference) with effect from 1 December 2020. Despite lobbying...more

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