Olympia Securities Commercial PLC (02655494): administration
- Status
- Administration ended
- Administration began
- 2014-07-01
- Administrators
- Ryan Kevin Grant, Catherine Williamson, Daniel Imison
- Administrators' firm
- AlixPartners
- Incorporated
- 1991-10-18
- Location
- Manchester
- Industry
- 41100 Development of building projects
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
- Parent or group failure
From the administrators' statement
The Compames were incorporated between 1991 and 2005 and their main activity 1s commercial and residential property investment Together they own 17 freehotd and leasehold properties across England and Scotland (the Properties), details of which can be found at Appendix B
The Companies form part of a wider group (the Arazim Group) for which the ultimate parent company 1s Arazim Investments Limited, an entity registered in Israel A group structure chart, showing the group structure based on the information available to the Administrators, 1s attached at Appendix A Anglo Insh Bank Corporation Limited initially funded Olympia (together with GBIL, Atnum and Garrett) and all the debt was crosscollateralised across all members of the Group
The Companies granted several debentures and floating charges between 2002 and 2009 1n favour of Anglo Insh Bank Corporation Limited in 2011, Anglo Insh Bank Corporation Limited changed its name to Irish Bank Resolution Corporation Limited (IBRC) On
Administrators' statement of proposals (2014-09-01) · Companies House register