Clearair Technology Limited (03890083): administration
- Status
- Administration ended
- Administration began
- 2013-03-22
- Administrators
- Philip Barrington Wood
- Administrators' firm
- Barringtons Corporate Recovery
- Formerly
- Ribbit Limited; Addrule Limited
- Incorporated
- 1999-12-07
- Location
- Newcastle
- Industry
- 30990 Manufacture of other transport equipment n.e.c.
Why it went into administration
- HMRC / tax arrears
- Weather / natural events
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The company was incorporated in December 1999 as Ribbit Ltd, as a consequence of the working arrangement put in place between two parties whereby the technologies attributed to each of them, were combined to offer a combustion enhancement “package” for internal combustion engines One of the parties specialised on the inlet side of an engine and the other on the outlet side
Three individual businessmen were found to invest tn the project who undertook to fund it to full commercial success subject to both systems being successfully tested at a high calibre internationally recognised test house It was also stipulated that, information would be supplied to Patent Agents to enable a new Patent to be granted
it soon became apparent that one of the systems required further work on tt while the other was an unqualified success when tt was tested at AEA Technology Ltd at Harwell and a new Patent was subsequently granted
Administrators' statement of proposals (2013-05-02) · Companies House register