Pattinson Properties Ltd (04788994): administration
- Status
- Administration ended
- Administration began
- 2014-08-06
- Administrators
- Nicholas Edward Reed, Robert Alexander Henry Maxwell
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2003-06-05
- Location
- Newcastle upon Tyne
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in June 2003 to facilitate the purchase of a plot of development land in Washington, Tyne and Wear
The Company secured a loan from Clydesdale Bank Ple t/a Yorkshire Bank Pic (“Yorkshire Bank’) in order to part finance the purchase of the land, with the remaining funds being provided by way of a loan from a connected Company, instrip Demolition Limited (‘Instrip”) and the Company directors The pnnciple sum loaned to the Company from Instrip was £389,000
On 2 March 2010 Instnp entered into administration with Robert A H Maxwell and Simon John-Lundy, both of Begbies Traynor (Central) LLP, being appointed joint administrators
Administrators' statement of proposals (2014-10-08) · Companies House register