# Global Trading Practice Limited (06466116)

> Why UK company 06466116 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06466116

- **Status:** Administration ended
- **Administration began:** 2013-07-18
- **Administrators' firm:** Moorfields
- **Incorporated:** 2008-01-07
- **Location:** London
- **Industry:** 78300 Human resources provision and management of human resources functions

## Why it went into administration

- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure

## From the administrators' statement

The Company was introduced to Moorfields by their accountants Wingrave Yeats as a consequence of HM Revenue & Customs issuing a winding up petition against NJS on 18 June 2013 Following this introduction, Moorfields contacted Ultimate Invoice Finance Limited (“Ultimate”), the Company’s secured creditor who provided the Group with an invoice discounting facility which was secured by a cross guarantee between all three of the companies.

The Group was reliant on NJS to provide head office functions As a result of NUS being placed into Administration on 17 July 2013, both the Company and NJC were unable to continue trading

Prior to the Joint Administrators appointment, Moorfields advised Ultimate and the director of the options available

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06466116/filing-history/MzA4NDMwOTE4N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06466116

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