Corpsol 101 Limited (04599759): administration
- Status
- Administration ended
- Administration began
- 2020-03-13
- Administrators
- Martin Paul Halligan
- Administrators' firm
- Live Recoveries
- Formerly
- Taison Lighting Limited; Taison Limited; Corpsol 101 Limited
- Incorporated
- 2002-11-25
- Location
- Horsforth
- Industry
- 27400 Manufacture of electric lighting equipment
Why it went into administration
- Competition / price pressure
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my Proposals has been prepared based on information provided to me by the director of the Company and not from my personal knowledge as Administrator.
Prior to the commencement of the Administration, Live Recoveries acted as advisors to the Board as a whole acting on behalf of the Company. No advice was given to the individual directors regarding the impact of the insolvency of the Company on their personal financial affairs. Whilst not formally in office at that time, Live Recoveries was still required to act in its dealing with the Company in accordance with the Insolvency Code of Ethics. A copy of the Code of Ethics can be found on Live Recoveries website www.liverecoveries.com.
As required by the Insolvency Code of Ethics, 1 considered the various threats to my objectivity arising from my prior involvement as advisor, for a short period prior to my appointment as Administrator. | concluded that those threats were at an acceptable level such that I could still act objectively and hence could be appointed Administrator of the Company.
Administrators' statement of proposals (2020-05-19) · Companies House register