Chester Properties Ebbw Vale 1 Limited (06192925): administration
- Status
- Administration ended
- Administration began
- 2015-02-12
- Administrators
- Matthew Robert Haw, Matthew Richard Meadley Wild
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Formerly
- Newincco 688 Limited
- Incorporated
- 2007-03-29
- Location
- Guildford
- Industry
- 99999 Dormant Company
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Due to the directors of the Company resigning prior to our appointment and the Partners not providing a history of the Company, the following information has been gleaned by the Joint Administrators using information from various sources who have dealt closely with the Entities.
The Entities collectively own a factory outlet centre situated in Festival Park, Ebbw Vale, Wales (“the Centre”) and have a leasehold interest m Festival Park (“the Parkland”). The local authority, Blaenau Gwent Council, own the freehold interest in the Parkland. -
The Freehold element was acquired by Chester Properties Ebbw Vale 1 Limited and Chester Properties Ebbw Vale 2 Limited, these being two nominee companies while the beneficial interest resided with the Partnership. The Leasehold interest was assigned to Chester Properties Festival Park Lumited, again a nominee company with the beneficial interest granted to the Partnership. The legal and beneficial ownership 1s complicated and is spread among the Entities, giving rise to the need for legal advice on this matter From the Joint Administrators’ understanding, The Partnership is the main trading entity with the Companies holding legal interests in the land and property
Administrators' statement of proposals (2015-05-12) · Companies House register