November 18, 2021
The High Court on Thursday 18 November gave a declaration of insolvency sought urgently in respect of the energy company Neon Reef Limited, which has been the subject of media coverage in recent days.
This declaration – which was made by reference to s123 of the Insolvency Act 1986 – enables the regulator OFGEM to take steps to revoke the company’s energy supply licence and manage its energy customers going forward.
The claim was filed on Wednesday 17 November and heard on Thursday by Mr Justice Trower. Zara McGlone appeared for the successful Claimant, the Gas and Electricity Markets Authority acting through OFGEM.
