# Generay Holdings Limited (05560132)

> Why UK company 05560132 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05560132

- **Status:** Administration ended
- **Administration began:** 2012-09-27
- **Administrators' firm:** Cork Gully
- **Formerly:** Bealaw (781) Limited
- **Incorporated:** 2005-09-12
- **Location:** London
- **Industry:** 70100 Activities of head offices

## Why it went into administration

- Sustained trading losses

## From the administrators' statement

Generay Limited (in Administration) (“GL”) operated a waste transfer facility and skip hire business from premises located at Fifth Way, Wembley GL was incorporated in 1975 On 5 October 2006, the shares of GL were purchased by Generay Holdings Limited (in Administration) (‘GHL”) GHL 1s wholly owned by the Trustees of the Peter Bran Prowting Settlement of 1987 (“Prowting 1987 Settlement’) The purchase was intended to diversify the investments of the Prowting 1987 Settlement GHL was incorporated in 2005

The consideration for the purchase comprised of an initial cash payment of £9,500,000 plus an element of deferred consideration contingent upon profits generated during the earn out period of 1 October 2006 to 30 September 2007 There ts an ongoing legal dispute between GHL and the sellers as regards the deferred consideration element of the sale agreement

AIB Group (UK) Plc (“AIB”) provided a secured loan of £4million against the operating premises located at Fifth Way, Wembley, HAS OJD (‘the Property”) on 4 May 2007

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05560132/filing-history/MzA2ODI1MDkxMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05560132

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.