Lunar RM Limited (05826743): administration
- Status
- Administration ended
- Administration began
- 2016-04-25
- Administrators
- Finbarr O'Connell, Colin Hardman
- Administrators' firm
- Evelyn Partners
- Formerly
- Drum Risk Management Limited; Whitefield Limited
- Incorporated
- 2006-05-23
- Location
- Horsham
- Industry
- 70229 Management consultancy activities other than financial management
From the administrators' statement
The joint administrators were appointed by the Director on 25 Apnl 2016 and, in the absence of any qualifying floating charge holder, there was no requirement to serve notice of his intention on the Company
The main aspect of the Company’s business was due diligence and risk management (through the provision of CMAs) in relation to commodity trades A key element of the CMAs was that the Company had insurance cover in place in relation to any loss of coal, ar other commodity Until October 2015, such cover was provided by two MCs
Each time a new CMA was agreed, the MC providers woutd be updated with regard to that agreement In mid2015, the Company became aware that coal to the value of approximately $22 million had gone missing from 4 storage sites in Turkey that were the subject of CMAs between the Company and the Banks
Administrators' statement of proposals (2016-06-27) · Companies House register