Travelfast Limited (07037429): administration
- Status
- Administration ended
- Administration began
- 2020-01-14
- Administrators' firm
- Moorfields
- Incorporated
- 2009-10-10
- Location
- London
- Industry
- 32990 Other manufacturing n.e.c.
From the administrators' statement
An accelerated sale and marketing process was undertaken prior to the Administration and no buyer for the Company's business and assets as a going concern was identified. Immediately following appointment, the Administrators then sought to obtain a sale of the Company's business and assets with Management in order to achieve the optimum outcome for the creditors as a whole. Please refer to Section 4 and Appendix 8 for further detail. Prior invoivement by Moorfields
Prior to the commencement of the Administration, Moorfields acted as advisors to the Board as a whole acting on behalf of the Company. No advice was given to the individual directors regarding the impact of the insolvency of the Company on their personal financial affairs. Whilst not formally in office at that time, Moorfields was still required to act in its dealings with the Company in accordance with the Insolvency Code of Ethics.
As required by the Insolvency Code of Ethics, Simon Thomas and | considered the various threats to our objectivity arising from this prior involvement. We concluded that those threats were at an acceptable level such that we could still act objectively and hence could be appointed Administrators of the Company.
Administrators' statement of proposals (2020-03-09) · Companies House register