Government notices confirm the court has placed Prax’s key refinery and terminal subsidiaries into compulsory liquidation. Winding‑up orders were made on 30 June 2025 for Prax Lindsey Oil Refinery Limited, Prax Storage Lindsey Limited and Prax Terminals Killingholme Limited; on 22 July 2025 for Prax Terminals Jarrow Limited; and on 12 November 2025 for Prax Downstream UK Limited. The court appointed the Official Receiver, Gareth Jonathan Allen, as liquidator and named FTI Consulting’s Matthew Callaghan, Andrew Johnson, Joanne Hewitt‑Schembri and Samuel Ballinger as Special Managers to assist. (gov.uk)
For readers unfamiliar with compulsory liquidation, this is a court‑ordered wind‑up. The Official Receiver is required to secure assets, identify creditors and investigate the causes of failure and the conduct of current and former directors. That duty to investigate is explicitly stated by the Insolvency Service in its formal notice. (gov.uk)
Special Managers are an additional layer brought in by the court on the Official Receiver’s application where an estate is complex or operationally sensitive. In this case, a four‑person FTI team has been appointed across the group to help run the site and protect value during the wind‑down. Their work will be paid from company assets, so rigorous oversight of scope, rates and time costs will matter to every unsecured creditor. (gov.uk)
Customers and suppliers are being funnelled through two dedicated inboxes run by the Special Managers: PLOR.customers@fticonsulting.com for customer issues and PLOR.suppliers@fticonsulting.com for supplier queries. Quote the exact Prax entity you dealt with and attach contracts, purchase orders and delivery evidence to speed triage. (gov.uk)
Creditors must register a claim. Complete a Proof of Debt form (general form on GOV.UK), state clearly which Prax company owes the money, and email it with supporting documents to the liquidator at PLOR.Creditor@Insolvency.gov.uk. Submitting one claim per legal entity is essential; grouping losses across the group will delay validation. Once logged, you should be added to the creditor list for updates. (gov.uk)
Sub‑contractors should also file Proofs of Debt via PLOR.Creditor@Insolvency.gov.uk and flag any retention‑of‑title assertions or unpaid applications for payment at the earliest opportunity. If your contract sits with another company in the former State Oil group, raise concerns with that company’s office‑holder rather than the refinery entities. (gov.uk)
Inside Corporate Insolvency will press for transparency on costs. The court allowed Special Managers because of the site’s complexity, but their fees will come out before any unsecured dividend. Creditors should ask for: hourly rate schedules; a budget for the first six months; a clear division of duties between the Official Receiver and FTI; and confirmation of any conflicts or prior engagements with Prax counterparties.
The Insolvency Service further confirmed on 5 January 2026 that an agreement has been reached to sell the assets of the refinery and related companies to Phillips 66 Limited, with completion subject to closing conditions and routine regulatory approvals. Creditors should note that proceeds will be applied under the statutory order of priority and will not automatically translate into an unsecured distribution. (gov.uk)
To avoid common mistakes, keep claims entity‑specific, update your ledger for credit notes and set‑off, and avoid emailing duplicate submissions. Where goods were supplied shortly before liquidation, gather delivery proofs and correspondence on title. If you’ve already lodged a claim with another Prax entity, do not assume it will be cross‑referred-re‑file for each company you traded with.
This publication will continue to follow the Official Receiver, Gareth Jonathan Allen, and FTI’s Special Managers by monitoring court filings, fee applications and creditor communications. If you are a creditor, we welcome documents that evidence unpaid balances, disputed set‑off or concerns about conduct. Our interest is simple: maximising recoveries and exposing unnecessary costs. (gov.uk)