SYL Realisations 2013 Limited (07753380): administration
- Status
- Administration ended
- Administration began
- 2013-06-14
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Formerly
- Sealine Yachts Limited
- Incorporated
- 2011-08-25
- Location
- Milton Keynes
- Industry
- 30120 Building of pleasure and sporting boats
From the administrators' statement
The Company was mcorporated on 25 August 2011 and acted as a non-trading holding Company and 100% shareholder of Sealine International Limited in Administration (“SIL”). SIL was placed into Administration on 30 April 2013
SYL provided funding to SIL secured by a debenture contaimng a fixed and floating charge over the assets of SIL, dated 10 October 2010. SYL’s debenture ranks third in respect of SIL’s freehold property at Kidderminster and second 1n respect of all other assets as stated by the deeds of pnonty At the date of the Administration of SIL the total debt due to SYL totalled £4,003,278 Any distribution is wholly dependent on the amount recovered from SIL (and SIL’s freehold property in particular which may take some time to realise) At present the quantum and timing of such a distribution 1s unclear
To facilitate the sale of certain assets of SIL, SYL resolved to change its name from Sealine Yachts Limited to SYL Realtsatrons 2013 Limited on 26 July 2013.
Administrators' statement of proposals (2013-08-12) · Companies House register