# Turbo Beta PLC (06433751)

> Why UK company 06433751 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06433751

- **Status:** Administration ended
- **Administration began:** 2011-03-29
- **Administrators:** Philip Stephen Bowers, Neville Barry Khan
- **Administrators' firm:** Deloitte
- **Formerly:** Turbo Beta Limited
- **Incorporated:** 2007-11-21
- **Location:** London
- **Industry:** 7499

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

Significant restructuring negotiations have taken place since August 2010 to attempt to complete a consensual restructuring of the Company Extensive negotiations took place between the ultimate shareholder of the Company, Pamplona, the Mezzanine Lenders, the Senior Lenders and the Group, and a variety of possible transactions between the various parties were discussed In addition, the Group commenced a marketing process referred to in section 3 2 below

Following negotiations with its key creditors, the directors of the Company invited the QFCH to appoint administrators in order to effect a sale of the Company's assets, being the shares in Alpha Il and the Receivable

Accordingly, on 30 March 2011 immediately after the appointment, the Administrators caused the Company to

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06433751/filing-history/MzAzNzM2NTMxN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06433751

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.