# Alburn (Globe) Limited (04611401)

> Why UK company 04611401 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04611401

- **Status:** Administration ended
- **Administration began:** 2012-05-16
- **Administrators' firm:** Moorfields
- **Formerly:** Newincco 206 Limited
- **Incorporated:** 2002-12-06
- **Location:** London
- **Industry:** 96090 Other service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Property / lease costs

## From the administrators' statement

The Company was incorporated on 6 December 2002 and !s part of a group of 24 companies (“the Group’) financed under a cross-company guarantee

The Company’s principal business interest 1s that of property investment with a portfolio of properties across the United Kingdom

In Aprit 2012 a strategic independent restructuring review of the Group was completed following a failed negotiation to extend the loan out to the final legal maturity date of the securitised bonds This re-valued the portfolio at a substantial discount to the original 2006 valuation N M Rothschild, the primary servicer, upon advice, decided to accelerate the repayment of the defaulted loan and pursue a managed and structured disposal strategy for the portfolio through the appointment of Fixed Charge Recevers and Administrators

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04611401/filing-history/MzA2MDkxMTM3MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04611401

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.