Birmingham Highways Holdings Limited (07064110): administration
- Status
- In administration
- Administration began
- 2018-09-19
- Administrators
- Timothy Vance, Bryn Tucker
- Administrators' firm
- Ey
- Formerly
- Amey Birmingham Highways Holdings Limited
- Incorporated
- 2009-11-02
- Location
- Birmingham
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company is a non-trading holding company, with its key assets being a 100% shareholding and the right to repayment of a shareholder loan in its sole subsidiary Amey Birmingham Highways Limited (‘ABHL’).
ABHL is party to a Private Finance Initiative contract to provide capital investment, operational and lifecycle works services to Birmingham City Council (‘BCC’) for a period of 25 years (‘the Project’) which it originally entered into on 6 May 2010. The Project concerns the rehabilitation, maintenance, management and operation of the highways and pavements network and associated infrastructure in the City of Birmingham. ABHL sub-contracted the work under the Project to Amey LG Limited (‘ALG’). ALG is in the same group of companies as AVAHL (as defined below), of which the ultimate UK parent is Amey UK Pic.
The share capital of the Company is owned by three shareholders (together ‘the Shareholders’):
Administrators' statement of proposals (2018-11-29) · Companies House register