Rushden Park & Lakes Development Company Limited (04072003): administration
- Status
- Administration ended
- Administration began
- 2014-10-23
- Administrators' firm
- Deloitte
- Incorporated
- 2000-09-14
- Location
- Manchester
- Industry
- 7011
From the administrators' statement
In August 2010, in order to realise the asset, the Bank appointed LPA Receivers over the asset The LPA Receivers liaised with the Company's directors (who had been actively marketing the Asset for some time) in taking over and supplementing the marketing process
At the conclusion of the marketing process a number of offers had been received for the asset, all of which were submitted on the basis of obtaining a change of use to base the development on a factory outlet mall The majority of the offers submitted were also conditional on the purchaser subsequently obtaining such a change of use except LXB which had submitted a significant unconditional offer After consideration of the downside risks of a planning consent for such a change of use not being achieved, the LPA Receivers agreed with the Bank to accept the offer from LXB
LXB were concerned that the LPA Receivers were not In a position to fully transfer to them the benefit of all the planning work undertaken by the Company They therefore required the Bank to appoint Administrators to the Company to safeguard the position, which led to David John Langton and Matthew James Cowlishaw being appointed as Administrators on 4 Apnil 2011
Administrators' statement of proposals (2011-05-31) · Companies House register