The Courtyard At Hoylake Limited (04086599): administration
- Status
- Administration ended
- Administration began
- 2014-03-21
- Administrators
- Paul W Barber, Francesca Tackie
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2000-10-09
- Location
- Manchester
- Industry
- 41100 Development of building projects
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 9 October 2000 and its trading activities relate to the leasing of a property owned tn Hoylake, Wirral known as Fire Station House, Grosvenor Road, Hoylake CH47 3BS
The directors initially approached Begbies Traynor (Central) LLP in September 2013 for advice on the Company's financial position
At a board meeting held on 4 November 2013, it was discussed that, while being balance sheet solvent, assuming the sale of the sole property asset at Hoylake (detailed further in section 6), the Company was cash flow insolvent This conclusion was reached on the basis that, should WFB Properties Limited take steps to recover sums It was considered owed to it prior to a sale of the asset, even caiculated at the lowest possible rate, the Company would be unable to pay its debts as they fall due In addition an impasse between the respective shareholders was also discussed Such discussions culminated in the board resolving that Paul Barber and Francesca Tackie were to be appointed administrators This resolution was not unanimous and upon application from the director who voted against the appointment of administrators, an ex parte injunction was granted by the Court preventing the appointment of administrators until at least 3 January 2014
Administrators' statement of proposals (2014-05-16) · Companies House register