# Hawkwing PLC (07741649)

> Why UK company 07741649 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07741649

- **Status:** Administration ended
- **Administration began:** 2023-02-10
- **Administrators' firm:** RSM
- **Formerly:** TLA Worldwide PLC
- **Incorporated:** 2011-08-16
- **Location:** Brighton
- **Industry:** 64209 Activities of other holding companies n.e.c.

## Why it went into administration

- Creditor pressure / legal action

## From the administrators' statement

e = In August 2021, the Company issued Convertible Unsecured Loan Note Instruments ‘CULS’ raising £16.5m, of which £13.7m was lent to IFG (SPP) for the purchase of the shares of Shade and Northcore. The funds lent to IFG (SPP) were by way of a facility agreement, secured by a fixed and floating charge. IFG provided a guarantee for the loan, in favour of the Company; however, the guarantee is subordinated to HSBC as IFG’s secured creditor.

• A bondholder of the CULS investment, Hanover, issued a statutory demand on the Company on 24 November 2022, on the back of unpaid loan note repayment. The Company applied to Court for injunction to restrain Hanover from presenting a petition against the Company, which further lead to Hanover applying to Court for an administration order.

• Asummary of the background of the Company, as well as a summary of the events leading to the appointment of the Joint Administrators can be found in Section 4.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07741649/filing-history/MzM3NTM4MjMwMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07741649

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.