Bradford Developments 1999 Limited (04254331): administration
- Status
- Administration ended
- Administration began
- 2014-07-01
- Administrators
- Ryan Kevin Grant, Catherine Williamson, Daniel Imison
- Administrators' firm
- AlixPartners
- Incorporated
- 2001-07-18
- Location
- Manchester
- Industry
- 74990 Non-trading company
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
- Parent or group failure
From the administrators' statement
31 The Compames were incorporated between 1991 and 2005 and their main activity 1s commercial and residential property investment Together they own 17 freehold and leasehold properties across England and Scotland (the Properties), details of which can be found at Appendix B
32 The Companies form part of a wider group (the Arazim Group) for which the ultimate parent company 1s Arazim Investments Limited, an entity registered in Israel A group structure chart, showing the group structure based on the information available to the Administrators, 1s attached at Appendix A Anglo Insh Bank Corporation Limited initially funded Olympia (together with GBIL, Atrium and Garrett) and all the debt was crosscollateralised across all members of the Group
33 The Companies granted several debentures and floating charges between 2002 and 2009 1n favour of Anglo Insh Bank Corporation Limited in 2011, Anglo Irish Bank Corporation Limited changed 1ts name to Insh Bank Resolution Corporation Limited (IBRC) On 7 February 2013, IBRC was placed into Special Liquidation pursuant to Section 4 of the Imsh Bank Resolution Corporation Act On 16 May 2014, the Companies’ debentures and charges were assigned to WDW 3 Investments Limited (WDW) by the Special Liquidators and IBRC's loans to Olympia and the Group was also assigned by the Special Liquidators to WDW (the Assignments) Full details regarding the Companies’ charges can be found at Appendix C
Administrators' statement of proposals (2014-09-02) · Companies House register