Daresbury Services Group Limited (07025042): administration
- Status
- Administration ended
- Administration began
- 2011-09-09
- Administrators
- Dominic Lee Zoong Wong, Matthew James Cowlishaw
- Administrators' firm
- Deloitte
- Formerly
- Daresbury Services Group PLC; The Daresbury Financial Services Group PLC
- Incorporated
- 2009-09-21
- Location
- Birmingham
- Industry
- 7415
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
According to the director’s statement of affairs, TAL was owed £11 9m by DSG as at the date of the Administrator's appointment TAL's claim against DSG comprises two separate advances made by TAL to DSG
(1) an advance of £1 733 million made by TAL to DSG in February 2010 to finance the purchase of IMSH, and
() an advance of £9 3 million made by TAL to DSG on 24 May 2010 This money was used by DSG to subscribe for additional share capital in IMSH, which in turn subscribed for additional share capital in its UK subsidiary, Integrated Integrated then used this money to repay an existing debt of the same amount to TAL It appears that had this money not been advanced by TAL to DSG, Integrated would not have been able to repay TAL, and TAL would remain a creditor of Integrated for thts amount, rather than being a creditor of DSG for this amount
Administrators' statement of proposals (2011-11-07) · Companies House register