On Tuesday, 11 August, the English High Court of Justice, Chancery Division handed down its decision in the widely watched case Re IMO (UK) Limited. The Court effectively granted control over what is left of IMO Car Wash ("IMO"), the world’s largest dedicated carwash company, to IMO’s senior lenders and, in the process, foreclosed any possible recovery by IMO’s mezzanine lenders and other junior creditors.