RJH (Margate) Limited (07531916): administration
- Status
- Administration ended
- Administration began
- 2012-08-03
- Administrators
- Robert David Adamson, Tim Alan Askham
- Administrators' firm
- Mazars
- Incorporated
- 2011-02-16
- Location
- Leeds
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
In March 2012, the Company entered into a settlement agreement with one of it’s subcontractors The basis of the agreement was that the Company would make monthly payments in the sum of £55,000 in order to repay the debt due to the sub-contractor
Shortly after reaching settlement, the Company discovered that the works previously carried out by the sub-contractor were defective and further work was necessary to rectify the defective works The Company withheld funds on this basis. As a result of the Company failing to pay, a Winding Up Petition was presented by the sub-contractor
In the circumstances, because the monies were properly due and owing to the sub-contractor pursuant to the settlement agreement, the Company was unable to pay their debts as and when they fell due The directors therefore had no other alternative but to appoint Joint Administrators to protect the Company’s creditors
Administrators' statement of proposals (2012-10-18) · Companies House register