DealsManufacturing
Newcastle robotics firm Wootzano has resumed trading after the Court of Session in Edinburgh halted liquidation proceedings.
It followed the confirmation of approximately £237 million in contracted distribution agreements in a report submitted to the court.
The court granted a sist – a Scottish legal mechanism that pauses the liquidation process and allows a company to continue trading – in what is understood to be a rare outcome in UK insolvency cases.
The company had entered liquidation following enforcement action by government-backed lender Innovate UK Loans.
A report submitted to the court by the joint liquidators accepted that there were substantial contracted distribution agreements and concluded that…