# Hill Street Investments PLC (03563572)

> Why UK company 03563572 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03563572

- **Status:** Administration ended
- **Administration began:** 2014-01-10
- **Administrators:** Gareth Wyn Roberts, Paul Ellison
- **Administrators' firm:** KRE Corporate Recovery
- **Formerly:** WRT Investments Limited
- **Incorporated:** 1998-05-14
- **Location:** Reading
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Creditor pressure / legal action

## From the administrators' statement

The Company is based in Watford and its principal activities are acquiring or investing in listed and unlisted companies The business Is primarily funded by a secured loan from TVI 2 Limited, a Jersey based investment fund, and several private unsecured investors

The Company has a substantial investment in Pathfinder Minerals pic (‘Pathfinder’) which is a quoted company which owns two sand mining licences in Mozambique The Company's shareholding in 2012 was worth circa £3 75 million and management intended to make small disposals to fund day to day operations However in February 2012 Pathfinder were advised that the licences were no longer registered in their name and had been transferred to Pathfinder Mozambique SA, an entity owned by a former director of Pathfinder

Pathfinder has since February 2012 litigated in both the UK and Mozambique to recover its assets and the share price has reduced significantly In addition the market for the shares is liquid and any attempt to sell large volumes would have a significant adverse impact upon the already low share price

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03563572/filing-history/MzA5NjEzMjQzOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03563572

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