Dania Properties Manchester Limited (04216809): administration
- Status
- Administration ended
- Administration began
- 2012-03-13
- Administrators
- Anne Clare O'Keefe, Alastair Paul Beveridge, Simon Jonathan Appell
- Administrators' firm
- AlixPartners
- Formerly
- Albert Express Limited; Yianis Manchester Limited; RBS Hotel Investments No 3 Limited
- Incorporated
- 2001-05-15
- Location
- Manchester
- Industry
- 7487
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
2.4 The Companies formed part of a wider group of compamies (the Group), ultimately owned by Mr Yianmiakis Christodoulou Shortly prior to the Joint Administrators’ appointment the \ Companies were removed from the Group and were moved into a new corporate structure of which the Joint Administrators traced ownership to Dania Investment Holdings Limited, a foreign company. As far as the Joint Administrators are aware, Mr Christodoulou remains the ultimate owner of the Companies.
22 The Companies are property holding companies Dania Properties Heathrow Limited (Heathrow) holds the freehold and two long leaseholds to a hotel at Bath Road, Heathrow, Middlesex, UB7 ODU. Dama Properties Manchester Limited (Manchester) holds the freehold to a hotel and a long leasehold of adjacent parking at Water Street, Manchester, M3 4JQ. (collectively the Hotels). Dania Properties M Limited (Dania M) fs a holding company to 1ts subsidiaries, Heathrow and Manchester.
23 Dania M purchased Heathrow and Manchester from The Royal Bank of Scotland Plc (RBS) in December 2007, Dania M paid consideration to RBS at the time of the transaction and also agreed to pay further consideration at a later date. Heathrow and Manchester were acquired by Dama M subject to debt funding advanced by RBS in December 2007; RBS later syndicated and sold their stake of the debt funding so that at the time of Administration there were five lenders who provided the debt funding (the Lenders). In December 2007, Heathrow and Manchester also entered into hedging arrangements with RBS
Administrators' statement of proposals (2012-05-25) · Companies House register