Project AML Limited (05207076): administration
- Status
- Administration ended
- Administration began
- 2015-12-22
- Administrators
- Colin David Wilson, Steven John Parker
- Administrators' firm
- Opus Restructuring
- Incorporated
- 2004-08-16
- Location
- Milton Keynes
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Parent or group failure
From the administrators' statement
Proyect AML Limited (hereinafter referred to as “the Company’) was incorporated on 2 December 1994 by directors Charles Pritchard and Brian Parker, who held office February 2007 and April 2012 respectively The Company commenced trading with immediate effect The Company was a subsidiary of Pritchard Group Pic
The group and its subsidiaries were all engaged in all aspects of property, including management, acquisitions and developments The principal trading activity of the Company was the development of a site known as Lakeside Park, Cannock, which was purchased by the Company in December 2004 The site was initially rented, until 2006 when it was demolished The site was kept in safe condition, however development was minimal whilst the Company sought to obtain planning permission in order to enhance the value of the land
The Company was part of a ‘borrowing group’ made up of 22 companies under a facility provided by Lloyds TSB Bank Plc (“the Bank”) until 22 December 2011 The Bank was given numerous mortgages and debentures in security of its funding On 22 December 2011 the Bank assigned all claims and other rights and interest to LSREF Il Royal Investments Limited ("LSREF") The borrowing group provided an omnibus guarantee and all companies contained within the group and jointly and severally liable for the debt to the Bank
Administrators' statement of proposals (2016-01-26) · Companies House register