IB2K Limited (04333984): administration
- Status
- Administration ended
- Administration began
- 2014-02-07
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2001-12-04
- Location
- Leeds
- Industry
- 85410 Post-secondary non-tertiary education
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
We were approached by the Company's bankers HSBC Bank Plc (‘the Bank”) in early February 2014 to review the affairs of the Company, following a Company Voluntary Arrangement (“CVA’) that had been proposed by the Company Directors, and which, prior to any meeting to hear the Directors’ proposals, the Company's major creditor, H M Revenue & Customs (“HMRC”), issued a winding up petition
Following this review and subsequent discussions with the Company's Directors and the Bank, it was agreed that the most appropnate course of action would be to place the Company into administration as a CVA was no longer viable, gven HMRC's stance
-3As HMRC had applied for the Company to be wound up, with the court heanng to take place in London on 10 February 2014, an administration application was made by Philip Beadnall, one of the Company's Directors, to the High Courts of Justice in Leeds, in order to protect value in the Company's major assets, 1e tts freehold properties at 4-6 and 8 Victoria Road, Bndlington
Administrators' statement of proposals (2014-04-08) · Companies House register