Tonic Holdings Limited (06517423): administration
- Status
- Administration ended
- Administration began
- 2014-03-28
- Formerly
- Bondco 1249 Limited
- Incorporated
- 2008-02-28
- Location
- St Albans
- Industry
- 64205 Activities of financial services holding companies
Why it went into administration
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 28 February 2008 as Bondco 1249 Limited and changed it's name to Its current style on 23 July 2008 The Company was a holding company whose only investment was Tonic Insurance Limited It was therefore not a trading entity and did not generate a tumover
Tonic Holdings Ltd was the shareholder of Tonic Insurance Ltd and for regulatory purposes was their “Corporate Controller’ Tonic Holdings Ltd was contacted in on 19% February 2014 by their bank account providers, Bank of Scotland, to obtain updated venification and identification details from shareholders who owned 10% or more of the shares Two shareholders namely Mr Michael Nessim and Mr John Newman, did not provide the required information Its shareholders were sent vanous correspondences by email and post both from Tonic Holdings Ltd and their solicitors Bond Dickinson in order to request them to provide the information required as part of Bank of Scotfand’s regulatory procedures
Mr Newman chose not to communicate with the solicitors despite several communications He did advise the board that he was not willing to provide the required documentation and wished to make the provision of this information conditional on certain financial commitments being provided by Tonic Insurance Lid to him Mr Nessim did not respond to any direct communication after being provided with additional information which he had previously requested.
Administrators' statement of proposals (2014-05-28) · Companies House register