Global Biotec Limited (05518793): administration
- Status
- Administration ended
- Administration began
- 2011-07-20
- Administrators
- Craig Povey, Richard Howard Toone
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-07-26
- Location
- London
- Industry
- 7487
From the administrators' statement
The Company was incorporated on 26 July 2005 and carried out research and development of biometric products
The Company secured funding from Lloyds TSB Bank PLC (“Lloyds”) under the small firms loan guarantee fund Lloyds has a debenture, incorporating fixed and floating charges, which remains unsatisfied at the date of administration
The Company also received extensive investment from the directors and shareholders but had been unable to develop the technology behind the product sufficiently to allow the product to be marketed for sale As a result, the Company had never progressed from a prerevenue stage and had made a loss every year since incorporation
Administrators' statement of proposals (2011-09-16) · Companies House register