From the administrators' statement

41 The company started to experience cash flow problems and there was also an element of uncertainty over the timings of debtor payments which in turn impacted upon the ability to meet fiabilities as they fell due This, coupled with the growing pressure, demands and threats of recovery/lega! action from its creditors, meant it was soon unable to meet tts liabilities

42 The director was concerned that the existing assets of the company needed to be protected and maximised, and believed it to be in the best Interests for the company and Its creditors to enter Administration after seeking professional advice

Management by the Administrator of the Affairs and Business of the Company since Appointment and Future Management

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EM (Leic) Developments Ltd (06742155)

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