R&I cases

R&I cases

This subtopic contains a series of Practice Notes setting out—on an annual basis—the key restructuring and insolvency cases since 2012 (where we have published case analysis).

For a list of the key cases we have covered, see below:

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2025: Key Restructuring & Insolvency cases

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Latest Restructuring & Insolvency News

Insolvency Service reports closure of pet supplies firm run by serial disqualified director

The Insolvency Service has announced the closure of Furrry Pet Group UK Ltd following a High Court order in Manchester. The company's sole director, Darren Anderson, was found to be operating while serving a 15-year directorship disqualification, his third such ban. The investigation revealed Anderson had used multiple aliases and failed to verify claims of £3.15m in assets. The company, previously known as The Holiday Travel Group Ltd until August 2024, did not provide requested accounting records, and investigators could not identify legitimate trading activity. The Official Receiver has been appointed as liquidator.

Restructuring and Insolvency weekly highlights—27 March 2025

This week's edition of Restructuring and Insolvency weekly highlights includes: key announcements from the Spring Statement 2025 of relevance to restructuring and insolvency practitioners, an analysis of a decision that a former auditor deliver up its audit files to liquidators (Dale v BDO LLP), the European Parliament's Committee on Economic and Monetary Affairs (ECON) opinion on the proposal for a directive harmonising certain aspects of insolvency law, plus a round-up of other news and cases for restructuring and insolvency professionals.

Section 235/236 orders against auditors (Dale v BDO LLP)

Restructuring & Insolvency analysis: The joint liquidators of NMCN Plc (the Company) and its subsidiary NMCN Sustainable Solutions Ltd (together the Companies) sought an order pursuant to sections 235 and 236 of the Insolvency Act 1986 (IA 1986) requiring the Companies' former auditor, BDO LLP (BDO), to deliver up its files, prepared in respect of its audit of the Companies' 2018 and 2019 accounts (the Audit Files). The Audit Files were required in order to ‘examine the audit work carried out by BDO, in circumstances set out below. The Administrators wish to investigate whether BDO breached the duties BDO owed to the companies. The Administrators also wish to investigate the information relevant to the audits which was provided to BDO by management and employees’. The court ordered the provision of the Audit Files as the office-holders reasonably required their production in order to avoid the time and expense of trying to obtain the same information from the voluminous company records. Written by Andrew Mace, barrister, Tanfield Chambers.

Spring Statement 2025—key Restructuring & Insolvency announcements

In the Spring Statement 2025, on 26 March 2025, the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, made several announcements of relevance to Restructuring & Insolvency practitioners, including tackling phoenixism, public sector reform, growth in businesses, business rates reform, and stock of tax debt.

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