CoGen Limited - Administration

CoGen Limited, an end-to-end developer of technically advanced energy recovery facilities across the UK, entered administration on 18 December 2023, after experiencing financial difficulties and being subject to a winding up petition presented by HMRC. The petition was adjourned on several occasions to allow the company’s ongoing projects to crystallise so that creditors could be repaid, but it became clear that the interests of creditors would be best served in an administration.

Immediately on their appointment as joint administrators, Joseph Colley and John Dickinson of CBW Recovery completed a sale of the business and most assets to Womble 1234 Limited, saving 24 jobs.

Abundance Security Trustee Limited has a registered fixed and floating charge and is expected to be paid in full under the fixed charge provided the contingent consideration due under the sale agreement is recovered. It is also anticipated that HMRC will receive a dividend as the secondary preferential creditor.