Opportunity Group (Holdings) Limited (06100133): administration
- Status
- Administration ended
- Administration began
- 2017-02-17
- Administrators
- Toby Scott Underwood, Lyn L Vardy
- Administrators' firm
- PwC
- Formerly
- HLW 327 Limited
- Incorporated
- 2007-02-13
- Location
- Leeds
- Industry
- 7415
Why it went into administration
- Rising interest rates
From the administrators' statement
My colleague Steve Ellis and I were previously appointed joint administrators of the Company on 9 April 2009 and, having completed our administration of the estate, the Company was dissolved on 13 July 2010.
In June 2015 we received a letter informing us that the Bank had conducted a review of the Company’s interest rate hedging product and was owed a redress payment of £57,140. As the Company had been dissolved, it was intended that these funds would be paid to the Treasury Solicitor.
The Bank remains a secured creditor of the Company and, in order for the compensation monies to be distributed in accordance with insolvency legislation, it made an application to Court for the Company to be restored to the register and for the re-appointment of the Administrators in order for us to distribute the redress payment as a cash asset for the benefit of the remaining creditors (those who are not subject to being time barred in accordance with the Limitation Act 1980).
Administrators' statement of proposals (2017-03-31) · Companies House register