Linenhall Property Investments Limited (04174741): administration
- Status
- Administration ended
- Administration began
- 2014-01-21
- Administrators
- Kerry Bailey, Francis Graham Newton
- Administrators' firm
- BDO
- Formerly
- Select No.2 Limited
- Incorporated
- 2001-03-07
- Location
- Liverpool
- Industry
- 68209 Other letting and operating of own or leased real estate
From the administrators' statement
PKF (UK) LLP (whose business and assets were transferred to BDO LLP on 28 March 2013) were first contacted by Paul Rooney, one of the directors of the company, in May 2011. Mr Rooney was seeking advice on the properties held in the Company and other vehicles, and options regarding associated lending from Clydesdale Bank Ptc., trading as Yorkshire Bank (“the Bank”)
The property portfolio was held in three separate entities, being Moorfields Properties Limited (“Moorfields”), Linenhall Property Investments Limited (“Linenhall”), and a Selfinvested Pension Plan (“SIPP”) held by Mr Paul Rooney
[t was evident that Linenhall was not insolvent in its own mght based upon the advised property values. However, there was a significant shortfall anticipated in respect of lending 1n Moorfields Linenhall had provided a corporate cross guarantee to secure the obligations of Moorfields to the Bank, which if called upon would render Linenhall
Administrators' statement of proposals (2014-03-25) · Companies House register