Bellmaine Central Limited (06026353): administration
- Status
- Administration ended
- Administration began
- 2018-06-01
- Administrators' firm
- Insolvency Practitioners of Ideal Corporate Solutions
- Formerly
- Platinum Projects Europe Limited
- Incorporated
- 2006-12-12
- Location
- Bolton
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
3.1 On 18 May 2018, the Company’s accountant contacted Ideal Corporate Solutions as it appeared that the Company had cash flow problems. On 23 May 2018, a further meeting followed with the Company Director present to ascertain detail of the assets and liabilities of the Company. The Company was experiencing cash flow difficulties and increasing creditor pressure and it was concluded that the Company was insolvent. All options were reviewed and it was ultimately concluded to place the Company into Administration as oppose to a trading administration due to the lack of funding and their only significant assets being book debts. A Pre-pack administration was also considered but was not appropriate in these circumstances.
3.2 On1June 2018, Andrew Rosler of Ideal Corporate Solutions Limited was appointed Administrator of the Company following the filing of a Notice of Appointment of Administrators by the Directors of the Company.
3.3 For creditors’ general information, the EU Regulation on insolvency proceedings applies in this case, and these proceedings are the main proceedings.
Administrators' statement of proposals (2018-08-10) · Companies House register