Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Directors did not breach fiduciary duty in relation to insolvent company's participation in failed tax avoidance scheme
    2022-06-01

    In Stephen John Hunt (Liquidator of Marylebone Warwick Balfour Management Ltd) v Richard Balfour-Lynn and others [2022] EWHC 784 (Ch), the High Court decided that the directors of a company which went into liquidation after participating in an ineffective tax avoidance scheme did not breach their fiduciary duties and payments made pursuant to the scheme were not transactions defrauding creditors.

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, RPC, HM Revenue and Customs (UK)
    Authors:
    Rebekka Sandwell
    Location:
    United Kingdom
    Firm:
    RPC
    English court crams down UK tax authority and sanctions Prezzo's restructuring plan
    2023-08-01

    On 5 July 2023 the Court sanctioned Prezzo Investco Ltd's (Prezzo) restructuring plan despite strong opposition by UK tax authority, HMRC.

    HMRC has taken a more active approach to opposing restructuring plans and was successful in blocking the plans recently proposed by GAS and Nasmyth (see our alert).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, HM Revenue and Customs (UK)
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    The Prezzo restructuring plan Court exercises discretion to cram down HMRC debt; confirms no requirement for company to provide consideration to "out of the money" plan creditors
    2023-07-19

    Summary

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Mayer Brown, Companies Act 2006 (UK), HM Revenue and Customs (UK)
    Authors:
    Devi Shah , Alexandra Wood
    Location:
    United Kingdom
    Firm:
    Mayer Brown
    English High Court refuses to sanction restructuring plan which crams down HMRC
    2023-07-10

    In the recent restructuring plan case of Re Nasmyth Group Limited1("Nasmyth"), the English High Court declined to exercise its discretion to order "cross class cram down" of HMRC, which was a dissenting plan creditor and which had opposed sanction of the plan, concluding that it would be unfair to sanction the plan.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Mayer Brown, HM Revenue and Customs (UK), High Court of Justice (England & Wales)
    Authors:
    Alexandra Wood , Sheena Frazer
    Location:
    United Kingdom
    Firm:
    Mayer Brown
    Directors' duties post Sequana - a differentiating factor?
    2023-08-11

    As expected, the scope of directors' duties whilst a company is in financial difficulties has been the source of further consideration by the Court. The recent case of Hunt v Singh [2023] EWHC 1784 raised the question as to whether, following the Supreme Court decision in BTI 2014 LLC v Sequana SA, a director's duty to take into account the interests of creditors arises where the company is at the relevant time insolvent if a disputed liability comes to fruition.

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, RPC, HM Revenue and Customs (UK), Supreme Court of the United States
    Location:
    United Kingdom
    Firm:
    RPC
    Directors did not breach fiduciary duty in relation to insolvent company's participation in failed tax avoidance scheme
    2022-06-01

    In Stephen John Hunt (Liquidator of Marylebone Warwick Balfour Management Ltd) v Richard Balfour-Lynn and others [2022] EWHC 784 (Ch), the High Court decided that the directors of a company which went into liquidation after participating in an ineffective tax avoidance scheme did not breach their fiduciary duties and payments made pursuant to the scheme were not transactions defrauding creditors.

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, RPC, HM Revenue and Customs (UK)
    Authors:
    Rebekka Sandwell
    Location:
    United Kingdom
    Firm:
    RPC
    English court crams down UK tax authority and sanctions Prezzo's restructuring plan
    2023-08-01

    On 5 July 2023 the Court sanctioned Prezzo Investco Ltd's (Prezzo) restructuring plan despite strong opposition by UK tax authority, HMRC.

    HMRC has taken a more active approach to opposing restructuring plans and was successful in blocking the plans recently proposed by GAS and Nasmyth (see our alert).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, HM Revenue and Customs (UK)
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    English court crams down UK tax authority and sanctions Prezzo's restructuring plan
    2023-08-01

    On 5 July 2023 the Court sanctioned Prezzo Investco Ltd's (Prezzo) restructuring plan despite strong opposition by UK tax authority, HMRC.

    HMRC has taken a more active approach to opposing restructuring plans and was successful in blocking the plans recently proposed by GAS and Nasmyth (see our alert).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, HM Revenue and Customs (UK)
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    English court crams down UK tax authority and sanctions Prezzo's restructuring plan
    2023-08-01

    On 5 July 2023 the Court sanctioned Prezzo Investco Ltd's (Prezzo) restructuring plan despite strong opposition by UK tax authority, HMRC.

    HMRC has taken a more active approach to opposing restructuring plans and was successful in blocking the plans recently proposed by GAS and Nasmyth (see our alert).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, HM Revenue and Customs (UK)
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    English court crams down UK tax authority and sanctions Prezzo's restructuring plan
    2023-08-01

    On 5 July 2023 the Court sanctioned Prezzo Investco Ltd's (Prezzo) restructuring plan despite strong opposition by UK tax authority, HMRC.

    HMRC has taken a more active approach to opposing restructuring plans and was successful in blocking the plans recently proposed by GAS and Nasmyth (see our alert).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Taylor Wessing, HM Revenue and Customs (UK)
    Authors:
    Louise Jennings , Isabelle Moisy
    Location:
    United Kingdom
    Firm:
    Taylor Wessing

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 47
    • Page 48
    • Page 49
    • Page 50
    • Current page 51
    • Page 52
    • Page 53
    • Page 54
    • Page 55
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days