Eagle-I Holdings PLC (03880834): administration
- Status
- Administration ended
- Administration began
- 2012-02-20
- Formerly
- Eagle EYE Telematics PLC; New Capital Invest PLC; Y2 Capital Invest PLC
- Incorporated
- 1999-11-22
- Location
- London
- Industry
- 7260
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 22 November 1999 in the name of Y2 Capital Invest plc and changed its name to New Capital Invest plc on 21 January 2000, followed by Eagle Eye Telematics plc on 6 November 2000 and finally Eagle-I Holdings plc (“E!H’) on 3 July 2008
The Company was part of the EIH Group which comprised EIH and two wholly owned subsidiaries, Eagle-| Telematics Limited (“EIT”) which was the principal trading Company and Eagle-| Leasing Limited (EIL”) which was set up to manage client accounts that leased or rented solutions from EIT, these were collectively referred to as the “own book’
The Group was not profit making and relied on investment tnitrally from the directors and shareholders and subsequently from Eagle-l Invest Limited Funds were injected periodically from investors into EIH and then distributed to EIT and EIL as authorised EIH retained the ownership to the intellectual property of the technologies being developed
Administrators' statement of proposals (2012-04-18) · Companies House register