# PMG Mezzanine Limited (07914831)

> Why UK company 07914831 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07914831

- **Status:** Administration ended
- **Administration began:** 2012-01-31
- **Administrators:** Matthew David Smith, Ian Colin Wormleighton
- **Administrators' firm:** Deloitte
- **Incorporated:** 2012-01-18
- **Location:** London

## From the administrators' statement

The Group had been operating as a property acquisition and management business since Its inception

Due to the economic climate, specifically the downturn in the real estate sector, the value of the assets within the Group had fallen significantly since 2009 and brought the Group's foanto-value ratios below the agreed levels under tts secured lending Specific detail on the Bank’s lending Is provided at section 4 2 3

Following this breach of the Bank’s lending requirements, the Bank engaged Deloitte to consider the options available to st in terms of realising the maximum value from the Group’s assets against Its exposure As part of this options review, JLL were instructed to prepare a portfolio review of the properties in the Group over which the Bank held secunty In Apnil 2011, JLL estimated that the portfolio had a total value in the order of £20 8m Subsequently a formal valuation by JLL in November 2011 valued the portfolio at £18 8m, the decline reflecting a continuing deterioration in the commercial property market.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07914831/filing-history/MzA1NTI1MTU0NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07914831

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