CR Realisations (2017) Limited (04001552): administration
- Status
- Administration ended
- Administration began
- 2017-05-03
- Administrators
- Mark Robert Fry, Gary Paul Shankland
- Administrators' firm
- Begbies Traynor
- Formerly
- Cluttons Residential Limited; Ovalbridge Limited
- Incorporated
- 2000-05-25
- Location
- London
- Industry
- 68320 Management of real estate on a fee or contract basis
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Regulatory change or action
From the administrators' statement
CLLP Realisations LLP (In Administration) formerly Cluttons LLP (‘the LLP”) entered into administration on 28 April 2017. The Company, a subsidiary of the LLP, subsequently entered into Administration on 3 May 2017 together with two associated entities CS Realisations (2017) Limited (formerly Ciuttons Services Limited) (‘Services’) and Choldco Realisations (2017) Limited (formerly Cluttons Holdings Limited) (‘Holdings’) collectively termed (‘the Group’). Gary Shankland and | were appointed administrators of the LLP on 28 April 2017 and thereafter, as administrators of the Company, Services and Holdings on 3 May 2017. We attach as Appendix 1 a statement of insolvency practice 16 (‘SIP16 Statement’). This SIP 16 Statement provides detailed information of the pre-packaged sale of the Group's businesses and assets (‘the Pre-Pack sale”) to a limited liability partnership Savenay LLP (“Savenay”) on 3 May 2017. The SIP 16 Statement is designed to assist creditors who may have limited knowledge of the Company/the Group and its affairs, to better understand the reasons for the Pre-Pack sale. This was sent to creditors as soon as practicable following our appointment, by post on 9 May 2017.
The administrators’ proposals to creditors (‘the Proposals") should be read in conjunction with the SIP 16 Statement. The Company is a wholly owned subsidiary of the LLP. Accordingly, the Pre-Pack sale of the Company should be viewed in the wider context of the sale of the Group's businesses and assets generally because the entities and transactions were inextricably linked.
To summarise, the principal reasons for the insolvency of the Group/ the Company are as follows:
Administrators' statement of proposals (2017-05-30) · Companies House register