ADM Energy Faces Winding-up Petition from UK Tax Authority

08:36 AM EDT, 07/15/2026 (MT Newswires) -- The UK tax authority on July 10 filed a winding-up petition against ADM Energy (ADME.L) with the High Court of Justice, the natural resource investing company said Wednesday. ADM Energy said it disputes the amount claimed by the commissioners for His Majesty's Revenue and Customs, stating the actual liability is materially lower. The petition will be heard on July 22. The company said its hired solicitor expects an adjournment of the hearing to allow time for the reconciliation of the amount claimed and to enable negotiations with the HRMC. However, it cautioned there is no certainty that an adjournment will be granted or that an agreement will be reached with the authority. ADM Energy said it secured a short-term funding deal with TN Black Gold to help pay for any agreed liability. It is also in talks with another party for additional funding and is exploring longer-term structured financing options.