Fairfax I.S. PLC (05496355): administration
- Status
- Administration ended
- Administration began
- 2012-12-05
- Administrators' firm
- BDO
- Formerly
- Fairfax I.S. Limited
- Incorporated
- 2005-07-01
- Location
- London
- Industry
- 66120 Security and commodity contracts dealing activities
Why it went into administration
- Regulatory change or action
From the administrators' statement
The Fairfax Group was established in 2005 as an independent investment bank with the directors and employees owning substantial equity A group structure is enclosed at Appendix 1. The Company was incorporated on 1 July 2005
The principal activities of the Company were the provision of corporate finance advice, institutional sales, market making, mergers and acquisitions and to undertake propnetary trading The Company was a member of the London Stock Exchange, a UK Lasting Authonty sponsor, a Nominated Adviser for the Alternative Investment Market and as a Listing Sponsor for NASDAQ Dubai. In the period to January 2011, the Company had successfully raised equity funding for chents of approximately £1 8 billion
The accounts for the penidd*to 31 December 2007, showed revenue ‘of £21 7m and profit ~ ~ after tax of £1.6m As a result of the ongoing current economic climate, revenues since 2007 had fallen to £7 2m dunng 2011 In order to mitigate the decreasing revenue, the Company sought to cut costs by ceasing recruitment of additional or replacement staff
Administrators' statement of proposals (2013-01-24) · Companies House register