Injury Specialists Solicitors Limited (05893175): administration
- Status
- Administration ended
- Administration began
- 2011-10-26
- Administrators
- Jeffrey Mark Brenner
- Administrators' firm
- B & C Associates
- Formerly
- API Solicitors Limited
- Incorporated
- 2006-08-01
- Location
- London
- Industry
- 7411
Why it went into administration
- Management failings / irregularities
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The business was initially formed as API Solicitors approximately 10 years ago This was asa sole practitioner firm of solicitors dealing exclusively with personal injury claims arising mainly out of roadtraffic accidents On 01 August 2006, the business was incorporated as API Limited, changing it’s name to it’s present style on 15 July 2008
Shortly after the business was incorporated, the previous owner arranged a number of ‘business development’ loans over a five/s1x year period, totalling £415,000 A business development loan of £250,000 was provided by Barclays Bank PLC with other loans of approximately £50,000 each provided by various other parties including Siemens, Bank of Scotland and Hitachi Finance The loans were utilised for an interior refurbishment of the company’s leasehoid premises and acquiring personal injury cases on behalf of the Company
INJURY SPECIALISTS SOLICITORS LIMITED — IN ADMINISTRATION
Administrators' statement of proposals (2011-12-06) · Companies House register