Hallmark Limited (02346055): administration
- Status
- Administration ended
- Administration began
- 2012-08-24
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1989-02-10
- Location
- Leeds
- Industry
- 6601
From the administrators' statement
During the early part of July 2012, the directors approached Begbies Traynor for advice as new business was decreasing and the company was also receiving a number of professional indemnity claims for which it had not made adequate provision for In addition, the company had lost an ombudsman adjudication and had two complaints pending which ultimately may have to be referred to the company’s Pi Insurers For each claim, a £10,000 excess Is payable and with three known claims, and additional ones likely, the company was evidently balance sheet tnsolvent due to the contingent habuities
The advice provided was to immediately make an application to court for an administration order and a Notice of Intention to appoint was filed with the Leeds High Court on 31 July 2012 to provide the company immediate protection whilst efforts were made to identify whether a third party may be interested in acquiring the company’s goodwill, contacts and client database The inital Notice of Intention expired on 13 August 2012 at which time a further Notice was filed in court which provided ten additional business days protection
Administrators' statement of proposals (2012-10-22) · Companies House register