Priority Blue Ltd (07833362): administration
- Status
- Administration ended
- Administration began
- 2015-07-22
- Administrators
- Mark Reynolds
- Administrators' firm
- Williams & Partners
- Incorporated
- 2011-11-03
- Location
- Borehamwood
- Industry
- 43390 Other building completion and finishing
From the administrators' statement
The Company was formed for the purpose of operating as a property agent, specifically for the purchase of the property known as, Ground Floor Commercial Unit, 758A Harrow Road, London, NW10 5LE and a single parking space (“the Property”) A lease agreement was made between Tuuta International Limited and Mr William in December 2011 in respect of the property Tiuta granted a further 125 year lease to the Company Masthaven Property Finance Limited (“MPFL’) provided a mortgage to the Company to fund the purchase of the lease, which was intended to be secured by a first legal charge over the Property
The lease of the Property has not been properly registered with the Land Registry, accordingly, Priority Blue Limited 1s not registered as the proprietor of the leasehold In the circumstances, Priority Biue Limited advanced claims against solicitors for breach of undertaking relating to the purchase of the Property MPFL also issued claims against solicitors acting for breach of undertaking relating to the Property
An agreement was proposed by all the parties involved and their respective insurers, through mediation, for full and final settlement of all claims Unfortunately, the terms of agreement
Administrators' statement of proposals (2015-10-19) · Companies House register