HMRC files second winding-up petition against Priory Asset Management LLP
HMRC has filed a second winding-up petition against Priory Asset Management LLP, with a High Court hearing listed for 10 June 2026. Full notice and Companies House record.
Information for general guidance, drawn from the public record. Not legal, financial, or insolvency advice. If you are affected by an insolvency, consult a licensed practitioner or qualified solicitor.
HMRC presented a fresh winding-up petition against Priory Asset Management LLP on 17 April 2026, returning the Cowes-registered limited liability partnership to the High Court less than thirteen months after a previous petition by the same creditor was dismissed.
A winding-up petition is a court filing in which a creditor asks a judge to make a winding-up order. Filing the petition does not wind up the company; no order has been made and the petition has not yet been heard.
The petition
The case carries reference CR-2026-003013 in the High Court of Justice (Chancery Division) and is listed for hearing at the Royal Courts of Justice, 7 Rolls Building, Fetter Lane, London on 10 June 2026 at 10:30. The Commissioners for HM Revenue and Customs, of 14 Westfield Avenue, Stratford, London, E20 1HZ, are named as the petitioning creditor.
HMRC's General Counsel and Solicitor is acting as solicitor to the petition under reference 2086988. Anyone intending to appear at the hearing, whether to support or oppose the petition, must give notice to the petitioner or its solicitor by 16:00 on 9 June 2026, in accordance with Rule 7.14 of the Insolvency (England and Wales) Rules 2016.
The earlier petition
HMRC had previously pursued Priory Asset Management LLP through the courts. That petition, case number CR-2024-006735, was presented on 7 November 2024 and dismissed in March 2025. The current petition is the second filed by HMRC against the same LLP.
The company
Priory Asset Management LLP was incorporated on 11 January 2011 and is registered at UK Office Marinus, Medina Road, Cowes, PO31 7XF. Its most recent accounts, made up to 31 March 2025, were filed as total-exemption-full accounts with Companies House.
The designated members
Stuart Grundy has been a designated member of the LLP since its incorporation on 11 January 2011 and remains in that role. Priory Capital Investment Ltd was appointed as a corporate designated member on 26 January 2016 and also remains in post. David Lenton served as a designated member from incorporation but resigned on 24 June 2015.
Secured charge
One outstanding secured charge is registered against the LLP. Mayfair Estates Property Investment Limited holds a charge created on 25 October 2023 and delivered to Companies House on 6 November 2023. The charge covers land on the north-east side of Damfield Lane, Liverpool, registered at the Land Registry under title number MS521330.
Common questions
What does a winding-up petition mean for Priory Asset Management LLP?
A petition is a court filing, not a court order. Priory Asset Management LLP is not yet in liquidation. The court will consider the petition at the date listed in the notice; until then, the company continues to trade, but its bank may freeze accounts and counterparties may stop extending credit. The court can dismiss the petition, adjourn it, or grant a winding-up order.
Are you owed money by Priory Asset Management LLP?
You are not yet a creditor in a liquidation; the company is still trading. If you support the petition, you may file a notice of support at the court named in the notice. If the petition is granted, you become an unsecured creditor in the resulting compulsory liquidation and the Official Receiver will invite you to submit a proof of debt.
Did you work at Priory Asset Management LLP?
A petition does not by itself terminate your employment. Wages and holiday pay continue to accrue until the company stops paying you or is wound up. Watch the bank position closely; if accounts are frozen, payroll will be the first thing to fail. If the petition is granted, statutory redundancy and notice claims become payable from the Redundancy Payments Service.
Are you a director of Priory Asset Management LLP?
Once a petition is filed, the company's directors have a heightened duty to consider the interests of creditors. Continuing to trade where there is no reasonable prospect of avoiding insolvent liquidation can expose directors to personal liability for wrongful trading under Section 214 of the Insolvency Act 1986. Specialist insolvency advice should be taken immediately.
Sources
- The London Gazette notice (code Petitions to Wind Up (Companies))
- Companies House record OC360771
- Court: High Court of Justice (Chancery Division), case CR-2026-003013
- Editorial standards: how we source and review; five-pass pipeline.
