At Monitor Limited (06746354): administration
- Status
- Administration ended
- Administration began
- 2019-12-18
- Administrators
- Andrew Watling, Carl Stuart Jackson
- Administrators' firm
- Quantuma
- Incorporated
- 2008-11-11
- Location
- Cobham
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was involved in a dispute with a shareholder, who was also a former Director. The former Director had sold shares to new investors, payment for which was not made to the Company. The Company’s other directors were unaware of these sales at the time and this is what lead to the dispute.
The Company attempted to collect the monies it was owed by the former Director from the share sales and in respect of shares issued to the former Director that had also not been paid for. Additional funding was sought from Robert Kay in order to cover legal costs.
When it became clear that payment was not forthcoming and the Company did not have sufficient working capital to continue funding legal action, the Director sought advice. Carl Jackson of Quantuma LLP met with the Directors of the Company on 3 December 2019 to discuss matters further.
Administrators' statement of proposals (2020-02-12) · Companies House register