Rainmaker Films Limited (04120062): administration
- Status
- Administration ended
- Administration began
- 2015-08-13
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2000-11-30
- Location
- London
- Industry
- 59111 Motion picture production activities
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Begbies Traynor (Central) LLP first met with one of the directors of the Company on 21 May 2015 Following this meeting Gary Paul Shankland, a partner of Begbies Traynor (Central) LLP provided written advice to the directors on 28 May 2015, regarding matters raised at the meeting of 21 May 2015, specifically in relation to ongoing litigation with a creditor (‘the litigation creditor’) of the Company and the associated costs of
defending the Company's position were starting to effect cash flow and the Company's solvency should the claim be admitted at the level suggest by the htigation creditor The dispute arose as a consequence of contractual obligations entered into by both the Company and the litigation creditor {tis understood that the directors attempted to reach a settlement with the litigation creditor, but terms were not agreed, which meant the fitigatton creditor continued pursuing his claim via the Court
Following the continued issues relating to the litigation creditor, the director approached Begbies Traynor (Central) LLP to assist the directors in placing the Company into Administration
Administrators' statement of proposals (2015-10-09) · Companies House register