On 5 July 2023, the High Court sanctioned the restructuring plan proposed by Prezzo Investco Limited (theCompany) despite opposition from HMRC.
United Kingdom, Company & Commercial, Insolvency & Restructuring, Freshfields Bruckhaus Deringer, HM Revenue and Customs (UK)
On 16 May 2023, Mr Justice Adam Johnson in the High Court refused to sanction the restructuring plan proposed by The Great Annual Savings Company Limited (GAS) following objections from HMRC.
United Kingdom, Insolvency & Restructuring, Litigation, Tax, Freshfields Bruckhaus Deringer, HM Revenue and Customs (UK)
The High Court has rejected a landlord's challenge to the Caffè Nero CVA, giving support to the ongoing usefulness of CVAs in high street restructurings. The case raised issues around the use of the electronic decision procedure set out in the Insolvency Rules for CVAs, nominee and director decision-making during the CVA process, CVA modifications and provision of information to CVA creditors.
Background