Intrust Limited (03237894): administration
- Status
- Administration ended
- Administration began
- 2012-06-26
- Administrators
- Martha Hanora Thompson, Danny Dartnaill
- Administrators' firm
- BDO
- Incorporated
- 1996-08-14
- Location
- Reading
- Industry
- 7487
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 14 August 1996 The Company (and its wider group) principally traded as a provider of company admimstration and support services to international professtonal firms and institutions.
The Company was funded by Barclays Bank Plc (“Barclays”) by way of a toan and overdraft facility secured by a fixed and floating charge created on 27 November 2001 and registered on 4 December 2001. Further funding was provided by the parent company (it’s 100% shareholder), The Intrust Group of Compames Limited (“IGCL”), secured by way of an assigned fixed and floating charge created on 15 February 2002 and registered 21 February 2002 This charge was assigned to IGCL by two individuals, David Epstein and Jonathan Hoffman.
Due to a declining market for its services, the Company began expenencing financial difficulties eventually leading to the Company’s insolvency. Having sought advice from a firm of chartered accountants in early June 2012, the directors filed a “Notice of Intention to Appoint an Administrator” at the High Court on 13 June 2012 as they were of the view that the Company was insolvent and was unable to pay its debts as and when they fell due
Administrators' statement of proposals (2012-08-17) · Companies House register