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LONDON - Capricorn Energy PLC announced on Tuesday that the High Court has refused to sanction Waldorf Production UK Plc’s restructuring plan under Part 26A of the Companies Act following a contested hearing in June 2025.
According to the statement released by Capricorn, Waldorf owes the company $29.5 million related to a sale and purchase agreement that was entered into in 2021 and subsequently amended in 2023.
Capricorn indicated it is currently considering its position on the matter in conjunction with its legal advisers, Mayer Brown International LLP. The company stated that discussions with Waldorf are ongoing, but noted that full recovery of the $29.5 million debt "remains unlikely due to Waldorf’s financial position."
The judgment was handed down on Tuesday by the High Court, with the full text available through the National Archives case law repository.
The court’s decision represents a setback for Waldorf Production UK Plc, which had sought to implement a restructuring plan that would have affected its creditors, including Capricorn Energy.
Capricorn Energy, listed on the London Stock Exchange (LON:LSEG), made the announcement via a regulatory news service filing.
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