Technicolor Creative Studios UK is set to file for administration, while several French subsidiaries face receivership, amid severe financial strain. The iconic VFX firm, known for work on Harry Potter, Mufasa: The Lion King, and Mission Impossible, cites post-COVID struggles, costly corporate separation, and the Hollywood writers’ strike as causes. U.S. offices of The Mill, MPC Advertising, and Mikros Animation are shutting down, with over 10,000 global jobs potentially affected. Despite recent award nominations and high-profile projects, the company failed to secure new investment or a buyer. Operations in France may continue under receivership, pending acquisition plans. 

This marks another blow after years of restructuring, a 2020 bankruptcy filing, and the 2021 sale of Technicolor Post to Streamland Media. Interim CEO Caroline Parot was appointed in 2023 as the company attempted yet another relaunch of its creative brands.

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The Guardian reports that nearly 20 English councils face potential insolvency due to soaring costs for Special Educational Needs and Disability (SEND) support, with total deficits projected to reach £5.2 billion within a year. This overspending, currently £3.4 billion, stems from rising demand for Education and Health Care Plans (EHCPs) and insufficient state school capacity, forcing councils to use expensive private alternatives.

A temporary government accounting measure, the "statutory override," has temporarily concealed these debts, but its expiration in March 2026 threatens to push many councils into bankruptcy. This could, in turn, lead to drastic cuts in local services. Experts warn that as many as 75 councils might be at risk. The government has acknowledged the crisis with the failing system and states that reforming SEND is a major priority to ensure every child receives a quality education. The situation highlights the urgent need for systemic change to address both financial pressures on councils and the growing needs of SEND students.

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French firearms manufacturer Verney-Carron, owned by CYBERGUN, has declared bankruptcy due to a complete freeze of its finances, halting production and salary payments. The company carries a debt of €1 million despite a €12 million investment from its parent company. A court hearing to confirm insolvency is expected on February 12, 2025, as the company seeks a new shareholder.

In 2023, Verney-Carron signed a €36 million deal with Ukraine for 12,000 assault rifles and 600 grenade launchers, with initial deliveries expected in early 2024. However, it is unclear if the contract was fulfilled due to the company's financial problems and delivery delays that began in 2021.

Subsequent to this original article - as published here in ici - formerly FrenchBleu (in French) the Saint-Etienne Commercial Court confirmed the placement in receivership of the arms manufacturer Verney-Carron on February 12 2025.

Read the original article at Militarnyi

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On 25 March 2025, a UK court approved restructuring plans for Enzen Global Limited and Enzen Limited, addressing key legal and commercial issues. The judgment welcomed HMRC’s active participation and support - marking a significant strategic shift in its restructuring approach - and upheld deviations from the pari passu principle by allowing flat payments to unsecured creditors, as all were out of the money in an alternative scenario. 

The judge also endorsed shareholders retaining equity, as they had effectively become owners through a prior debt-for-equity swap and contributed new funding. Recognition in Spain was deemed reasonably likely. The case offers valuable precedent on creditor treatment, equity retention, and the flexibility of UK restructuring law, especially under Part 26A. It confirms that fairness can be maintained even with non-traditional value distribution methods, provided they are commercially justified and proportionate.

Read the full story at Freshfields

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