From the administrators' statement

The Company was incorporated on 16 July 2012 and provided order book finance to its clients. The range of services included, principally, providing funding for supplies, freight, VAT and Duty costs to meet orders in the UK and overseas.

Funding was provided to the Company by ArchOver to finance the Company's operations. Details of the security granted to ArchOver are provided in detail in Section 7 below.

Despite the Company seeming to be profitable per the Company's historical financial Statements, we are given to understand the Company suffered severe financial difficulties in the period leading up to our appointment. It appears that this was principally due to a series of substantial bad debts and/or failure on the

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UK Exim Finance Ltd (08143983)

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