Imtech Water Waste and Energy Ltd (03455127): administration
- Status
- Administration ended
- Administration began
- 2015-09-01
- Administrators
- Matthew Boyd Callaghan, Anthony Steven Barrell
- Administrators' firm
- PwC
- Formerly
- Imtech Process Limited; Meica Process Limited
- Incorporated
- 1997-10-24
- Location
- Leeds
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
On 6 August 2015, Imtech’s German division filed for insolvency m the German courts. This resulted in a number of claims and guarantees crystallismng in Royal Imtech NV, as ultimate parent
On 11 August 2015, administrators in the Netherlands were appointed over Royal Imtech NV and on 13 August 2015 they were appointed trustees 1n bankruptcy
As a result of the insolvency of Royal Imtech NV, payments were suspended between the group companies and the group cash pools were frozen. The consequence of this and the stakeholder uncertainty caused by msolvencies across the Imtech group (1 e Germany and the Netherlands) was that the UK division was unable to contmue to fund trading operations This led to the appointment of administrators over IUK and ITS on 28 August 2015
Administrators' statement of proposals (2015-10-27) · Companies House register