Is 5p enough to cram down HMRC in a Restructuring Plan?

Rachael Markham of Squire Patton Boggs notes that the appetite to use a restructuring plan (RP) in the mid-market appears to have quietened down following several unsuccessful attempts to cram down HMRC, though she urges readers to keep an eye on HMRC’s response to the latest mid-market RP that proposes to treat unsecured creditors and HMRC in the same way by paying both classes of creditor 5p in the £.

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