BD Products Limited (02715059): administration
- Status
- Administration ended
- Administration began
- 2011-12-07
- Formerly
- B.D. Systems Products Limited
- Incorporated
- 1992-05-15
- Location
- Norwich
- Industry
- 3663
From the administrators' statement
BD Products Limited (“the Company”) was incorporated on 15 May 1992 and was the holding company for BD Systems Limited (“BDS”) The main purpose of the Company was to hold and maintain product certficates under which products were manufactured by BDS. These certificates detailed the specifications of how certain products should be manufactured but they did not include the technical specifications, which were held by BDS
BDS entered administration on 27 April 2011 and | was appointed Administrator Upon my appointment of BDS | sold the business and assets to BD Systems (Europe) Limited (“Europe”) which had common directors to BDS However, no agreement was in place to pay the Company for the use of these certificates Consequently, the Company does not have adequate funds for when it becomes necessary to renew the certificates, nor does it have the funds to pay its staff (being the director) There is a sum of £253,845 owed to the Company from BDS which arose from loans made by the Company to BDS dunng trading. Following the insolvency of BDS, the amount expected to be received by way of dividend 1s estimated at £29,000
To cover the Company's financial shortfall, the director deferred his salary for several months Subsequently, with certification costs becoming due, creditors’ claims increasing and no real purpose remaining for the Company, the director sought my professional advice on 30 September 2011 and on 10 November 2011 instructed me to assist with placing the Company
Administrators' statement of proposals (2012-02-01) · Companies House register