From the administrators' statement

The Company acquired the freehold property of the hotel in 1996 and over the following years undertook a programme of renovations to bring the property up

to an acceptable standard.

The Company ran up H M Revenue & Customs arrears and subsequently entered a Company Voluntary Arrangement (“CVA”) in June 2008. The terms of the CVA were for monthly contributions of £600 to be paid for a period of 12 months plus a £75,000 lump sum contribution from the re-mortgage of the Company’s property which would enable all creditors to be patd in full The Company traded satisfactorily during the ensuing year and made all 12 monthly contributions to the CVA supervisor.

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Omar Developments Limited (03157363)

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