A.S.P. Packaging (Holdings) Limited (02234007): administration
- Status
- Administration ended
- Administration began
- 2012-09-28
- Administrators
- Antony David Nygate, Geoffrey Stuart Kinlan
- Administrators' firm
- BDO
- Formerly
- A.S.P. Packaging Limited
- Incorporated
- 1988-03-22
- Location
- London
- Industry
- 22220 Manufacture of plastic packing goods
Why it went into administration
- Property / lease costs
From the administrators' statement
The Company was incorporated on 22 March 1988 as a holding company for ASP Packaging Limited (“Packaging”) The Company did not trade but 1s the owner of the leasehold property at Caxton Way, Watford (“the Premises”) from which Packaging traded.
Due to the appointment of Antony David Nygate and Geoffrey Stuart Kinlan as Joint Administrators’ of Packaging on 3 August 2012, Packaging would no longer be in a position to pay rent due to the Company. Consequently, 1t became apparent that the Company would be unable to service its loan repayment obligations to Barclays Bank PLC (“the Bank”) and the Company’s shareholders took the decision to appoint administrators.
On 28 September 2012 an application for appointment of Joint Administrators was made by the Company, pursuant to Paragraph 12 of Schedule B1 of the Insolvency Act 1986 and Geoffrey Stuart Kinlan and Antony David Nygate were appointed Joint Administrators. Under the provisions of paragraph 100(2) of Schedule B1 of the Insolvency Act 1986 the Administrators carry out their functions jointly and severally and neither Administrator has exclusive power to exercise any function.
Administrators' statement of proposals (2014-03-14) · Companies House register