# Vista Building Limited (02851426)

> Why UK company 02851426 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02851426

- **Status:** Administration ended
- **Administration began:** 2013-05-15
- **Administrators:** Philip Stephen Bowers, Matthew James Cowlishaw
- **Administrators' firm:** Deloitte
- **Formerly:** Kerrington Management Limited; Simco 556 Limited
- **Incorporated:** 1993-09-08
- **Location:** Basildon
- **Industry:** 41100 Development of building projects

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The Bank had provided various facilities to Desiman Limited which at the date of the appointment of Joint Administrative Receivers to Desiman Limited totalled £36 9 million in drawn facilities, which had been cross guaranteed by the Companies

The Group's banking facilities expired on 23 March 2013 following which the Group sought a refinancing with a third party lender In order to facilitate such a refinancing, the Bank offered a short term extension of the facilities, although the terms of this extension were never agreed In light of the facilities being in default, the Bank took steps to enforce its security by way of appointing an Administrative Receiver over Desiman Limited and Administrators over the Companies

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02851426/filing-history/MzA4MTMxMTgwNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02851426

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.