Hextel Communications Ltd. (03891179): administration
- Status
- Administration ended
- Administration began
- 2013-07-03
- Administrators
- Michael Stephen Elliot Solomons, Andrew James Pear
- Administrators' firm
- BM Advisory
- Incorporated
- 1999-12-09
- Location
- London
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 9 December 1999 and traded as a telecommunications company from leasehold premises at 400 Harrow Road, Paddington, London W9 2HU. The Company had approximately 4 employees and two directors, Derek Safinia and Hossein Hay Mohammad All. The four shareholders are Hamid Korkchi (holding 525m ordinary shares), Derek Safinia (holding 4.725m ordinary shares), Hossein Hay Mohammad Ali (holding 4 725m ordinary shares) and M Gilmore (holding 300k ordinary shares).
The Company was involved tn ongoing legal proceedings with a German supplier and in May 2013, an Order of the High Court granted permission to register a Judgment in the District Court of Bonn. Execution of the Judgment resulted in a lability of €1.04M, pus costs of £13k. In June 2013, the directors undertook an investigation into the affairs of the Company and based upon its financial position, they determined that the Company was or was likely to become insolvent on a balance sheet and cash flow basis
Restructuring and insolvency services are provided through BM Advisory LLP and our partners are licensed tn the United Kingdom to act as insolvency practitioners
Administrators' statement of proposals (2013-08-27) · Companies House register