Enzen Limited Restructuring

The Summary

Company Name: Enzen Limited
Plan Sanctioned: April 2025

Sector: Energy & Infrastructure Consulting

Founded: 2015

Situation: HMRC had issued a winding up petition for historic tax debts

Outcomes

Major lenders agreed to reduce and restructure their debts.
HMRC achieved a return of 4–6p/£ (vs almost nothing in administration).
Unsecured creditors received a guaranteed £1,000 each (vs nil in administration). This was less than 1p/£ for some unsecured creditors.
The business avoided pre-pack administration, safeguarded contracts and jobs.
Process completed in weeks, not months.

The Background

Enzen had a strong UK business but grew too quickly abroad, draining cash and piling on debt. By early 2025, it faced insolvency. Directors turned to a restructuring plan to deliver a better result for creditors than administration.

The Plan

The court approved a plan where:

Lenders wrote down and rescheduled large parts of their loans.
HMRC accepted a massively reduced settlement, but higher than what they’d see in administration.
Trade and unsecured creditors received a small amount of fixed compensation instead of nothing.

Detailed Returns by Class

HMRC: 4–6p/£ recovery.
Unsecured creditors: £1,000 minimum (vs nil in administration).
Other creditors: Better outcome than administration, with some future upside.

The Takeaway

Enzen’s case proves that restructuring plans aren’t just for major corporates. Even where administration seemed inevitable, the plan delivered real returns to creditors, kept the business alive, and preserved jobs.

If your company is considering its options and facing similar financial pressures, a restructuring plan may provide a solution. Get in touch with Haliburton to discuss your situation confidentially.