Overview

In this case, the EAT held that an employer that entered into administration had been proposing to dismiss as redundant 20 or more employees within a 90 day period, such that it ought to have conducted collective consultation, and the affected employees were entitled to a protective award.

Background

In a key test case on the relevance of tax losses (and more broadly, HMRC) under Part 26A of the Companies Act 2006, Mr Justice Michael Green in the High Court has sanctioned the second restructuring plan (RP2) of Waldorf Production UK Plc (the Plan Company), overriding HMRC’s challenge by using the cross-class cram down power in s.901G. The judgment resolves, at least at first instance, a series of live questions about the limits of HMRC’s ability to challenge restructuring plans and the proper scope of the “no worse off” test.

Written by - Thomas H. Curran

As cross-border insolvencies continue to evolve, a notable shift is emerging in how complex restructurings are being executed. While Chapter 11 has long been the dominant forum for large corporate reorganizations, an increasing number of companies - particularly those with international capital structures - are turning to foreign restructuring regimes as a primary venue, with Chapter 15 serving as the mechanism to extend those proceedings into the United States.

Summary

[2026] EWHC 819 (Ch)

InstaGroup makes insulation materials and subcontracts the installation of those materials to third parties, such as Northwest, who entered into creditors’ voluntary liquidation in August 2025. Mr Stansfield was a director of Northwest from 27 August 2008 until 19 April 2022. InstaGroup alleged that Northwest breached an agreement dating from 2013, and claimed over £3 million against Northwest. InstaGroup made a claim against Mr Stansfield based on the terms of a Guarantee entered into in 2008.

Connected party transactions - transactions entered into between a company and persons or entities with a close relationship to it (such as directors, shareholders or group companies) - attract heightened scrutiny under the Insolvency Act 1986 (the Act). This is because connected parties are not independent of the transferring company and are often in a position to influence its decision‑making, giving rise to an increased risk that assets are transferred on non‑arm’s‑length terms.

There are currently 45 digital asset businesses operating in Bermuda with a license from the Bermudan Monetary Authority (the BMA).

It is not uncommon for a claimant who has issued a professional negligence claim to realise, once limitation has expired, that he has sued the wrong defendant. One potential escape route for claimants in this predicament was shut down on Friday 6 February 2026 by the Court of Appeal in the conjoined appeals in Adcamp LLP v Office Properties and BDB Pitmans v Lee [2026] EWCA Civ 50.