Revenue’s High Court campaign against the bailout proposed for insolvent Nothern Irish building company Mac Interiors last week appeared to come from out of the blue. Usually a neutral player in examinerships, the tax authority mounted a highly technical legal assault on the rescue plan. The objection focused on the composition of creditor classes, specifically how examiner Kieran Wallace of Interpath Advisory had divided up the company’s unsecured creditors into different groupings to vote on the scheme of arrangement. Revenue, the only opponent to the salvage scheme, clearly felt hard done by. The surprising part – for insolvency practitioners and…

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