Shinerose Properties Limited (03740291): administration
- Status
- Administration ended
- Administration began
- 2013-11-13
- Administrators
- Stephen Mark Katz, Paul Robert Appleton
- Administrators' firm
- David Rubin & Partners
- Incorporated
- 1999-03-24
- Location
- London
- Industry
- 74990 Non-trading company
From the administrators' statement
The Company’s principal activity is that of a Holding Company. Its wholly owned subsidiary Shinerose Iberica SL (“tberica”) invests in and develops land in Spain.
Background 2003-2009
Since 2003, Summut Trust International SA (originally known as Close Trustees (Switzerland) SA) administered five family trusts, each of which held an underlying BVI Company. The BVI Companies had made an interest free loan to a non-UK. pension scheme called the Close Trustees Overseas Staff Retirement Benefit Scheme, which held 100% of the share capital of the Company. The Company had, in turn, invested these funds in its wholly owned Spanish subsidiary, Iberica, through a mixture of loan and equity The loan has now been paid off, leaving the Company owning 100% of Iberica Iberica owns two commercial properties in Malaga and Santander.
Administrators' statement of proposals (2014-01-10) · Companies House register