Propertybourse Limited (04790744): administration
- Status
- Administration ended
- Administration began
- 2013-10-28
- Administrators
- Malcolm Peter Fillmore, Michael Stephen Elliot Solomons
- Administrators' firm
- Grant Thornton
- Incorporated
- 2003-06-06
- Location
- Crawley
- Industry
- 64305 Activities of property unit trusts
Why it went into administration
- Cash flow / liquidity pressure
- Regulatory change or action
From the administrators' statement
The Company was formed on 6 June 2003 by Mr Robin Christie to source and manage property portfolios on behalf of third party investors Mr Christie is a qualified Chartered Surveyor, although he is understood not to have practised professionally for many years Instead his career CV shows that, since 1984, he has been an investment analyst and securities broker for companies such as NatWest Securities, Kitcat & Aitken and WI Carr, before forming his own property investment businesses such as Muirfield Strategic Investments Ltd (in 1991) and Property Exchange Ltd (in 2000)
The Company, on formation, appointed three directors — Robin Christie (who Is now the sole director), Simon Leach (who resigned in February 2006 but who remained a director of Murrfield until November 2011) and Derek Butler (formerly a senior partner with the international property agents, DTZ and latterly with Curzon Global Partners and who resigned as a director of the Company in October 2012)
While founded by Mr Christie, there have been a number of share issues over the ten years of Its existence The latest Annual Return discloses that Mr Christie owns 46% of the issued shares, Rotch Limited (Vincent Tchenguiz) owns 36%, and 9 other shareholders (mainly former employees or consultants) owning between them the remaining 18%
Administrators' statement of proposals (2013-12-09) · Companies House register