Waldorf’s Restructuring Faces Opposition From UK Tax Office (1)

The UK’s tax office is seeking to block Waldorf Production from restructuring its liabilities in a London court, as the nation’s fiscal body takes an increasingly aggressive stance when it comes to debt collecting.

The struggling oil and gas company owes His Majesty’s Revenue & Customs an estimated $72.4 million, court documents seen by Bloomberg show. The HMRC — the sole dissenting creditor in the case — is challenging Waldorf’s bid to rid itself of those debts, arguing that it is not an ordinary commercial creditor and that the court has no authority to impose a “compromise” on the tax ...