From the administrators' statement

31 This report should be read 1n conjunction with the group structure attached at Appendix B and 1 the Administrators’ Disclosure Report pursuant to Statement of Insolvency Practice 16 (SIP16) - pre-packaged sale of business and assets, dated 20 August 2015, a copy of which can be found at Appendix C

32 The Group and the Riverside Companies (the Wider Group) 1s one of the UK’s leading integrated waste management and environmental services providers It owns and operates one of the largest ‘energy-from-waste’ plants in the UK, together with a river transportation and logistics division which supplies the plant. The Group also provides collection, recycling and other waste ‘ disposal services (including traditional landfill sites) both m and outside of London The Company ts an intermediate holding entity of the Wider Group

33 In recent years, various external and industry driven factors have resulted in significant change in the UK waste sector The rapid escalation of landfill tax rates following the introduction of \ European Union landfill diversion targets in 1998 and 2004 served to encourage diversion of | waste from landfill and the development of alternative waste treatment facilities to treat the diverted waste As a result of the diversion of waste away from traditional landfills, the cash flows available to the Wider Group have been dechming since 2008

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Viking Consortium Borrower Limited (06067188)

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