Justice Support Services (North Kent) Limited (05826309): administration
- Status
- In administration
- Administration began
- 2022-12-06
- Administrators
- Benjamin J Browne, Alastair Paul Beveridge
- Administrators' firm
- AlixPartners
- Incorporated
- 2006-05-23
- Location
- London
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 2006 as a special purpose vehicle established to deliver a Private Finance Initiative project agreement (the PFI Agreement, the Contract or the Project) with Kent Police Authority (Kent Police) for the design, construction and facility management of a new police custody suite and headquarters building in Kent (the Police Station). The PFI Agreement was signed on 21 July 2006 and the concession period runs for 30 years from that date.
The PFI Agreement was funded by the Bank. As part of the agreement, the Bank made available to the Company a loan facility (the JSS Facility). The Bank is the sole secured creditor of the Company and, as funding provider, has a direct contractual interest and certain rights in the Project via various sub-agreements, including a Lender’s Direct Agreement (the LDA) between the Bank, Kent Police and the Company dated 21 July 2006.
After the signing of the PFI Agreement, the Bank transferred the JSS Facility credit to Scottish Widows Limited.
Administrators' statement of proposals (2023-02-08) · Companies House register