Maats Tech Limited (07138780): administration
- Status
- Administration ended
- Administration began
- 2023-03-24
- Administrators' firm
- FRP Advisory
- Incorporated
- 2010-01-28
- Location
- Bristol
- Industry
- 28220 Manufacture of lifting and handling equipment
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company sought advice from FRP on 11 January 2023, following an initial introduction from the Company secretary, James Luxton.
FRP were engaged to run an AMA process in order to identify and ‘approach potential interested parties and conduct negotiations as appropriate with a view to the sale of the shares, or the business and/or assets. .
At this stage FRP’s primary duty of care was to the Company which would include consideration of the director's fiduciary duties to act in the overall best.interest of the company and its creditors. Until the appointment of Administrators the director | continued to be responsible for the Company and its affairs. Neither FRP nor_its insolvency practitioners advised the director personally, nor any parties interested in purchasing the business and assets of the Company.
Administrators' statement of proposals (2023-05-24) · Companies House register