MRP (2013) Limited (07074480): administration
- Status
- Administration ended
- Administration began
- 2013-08-20
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- Morton Roofing Products Limited
- Incorporated
- 2009-11-12
- Location
- Reading
- Industry
- 22230 Manufacture of builders ware of plastic
Why it went into administration
- Rising costs / inflation
- Creditor pressure / legal action
From the administrators' statement
Prior to the Company’s formation, Terence Morton ("TM”) had approximately 40 years of experience in the roofing industry. In 1996, TM designed a purpose built clip to hold lead flashing on brickwork. TM sent his ideas to a number of large businesses The Directors have stated that TM’s ideas and designs were copied and stolen by individuals and resold
Gerald Clifford (“GC”), who had provided financial assistance to TM to develop the products, introduced TM to an investor in 2009 The investor had tnitially agreed to invest in TM's tdeas and involved Howard Rivers CHR’), an experienced solicitor, with the venture.
The investor subsequently pulled out and HR suggested that the three if them set up a company to continue with the marketing of the products The Directors have stated that the Company was set up with all three Directors having a shareholding in the Company However, based on the latest annual return submitted to the Registrar of Companies, the only registered shareholder ts listed as HR. The Directors state that they had agreed to the Company being set up and for the shares to be split between the Directors. The Company was incorporated on 12 November 2009 with the main purpose of bringing the products to market and taking acton against the individuals who were alleged to have stolen the ideas
Administrators' statement of proposals (2013-10-17) · Companies House register