# Hibu Finance (UK) Limited (07020389)

> Why UK company 07020389 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07020389

- **Status:** Administration ended
- **Administration began:** 2014-03-04
- **Administrators:** Ian Colin Wormleighton, Neville Barry Khan, Philip Stephen Bowers
- **Administrators' firm:** Deloitte
- **Formerly:** Yell Finance (UK) Limited
- **Incorporated:** 2009-09-16
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## From the administrators' statement

The Group has been in discusstons with Its Lenders to seek to agree a financial restructuring for 18 months in view of the significant financial difficulties facing the Group Those discussions resulted in the Restructuring, which was implemented on 3 March 2014 As part of the Restructuring ail equity in the operating subsidiaries in the Group was transferred to Lender controlled companies in exchange for a debt write-down

The Restructuring was impfemented via a series of Schemes of Arrangement and Administrations of the Companies On 19 February 2014, approximately 87 5% by value (100% of those voting) of the Lenders approved the Schemes of Arrangement and, following that approval and sanction of the Schemes of Arrangement by the court, the directors of the Companies appointed administrators using an out of court process (with the exception of Finance BV which was a court appointment)

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07020389/filing-history/MzA5NjU1MDM0N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07020389

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