Green Network UK PLC (08241751): administration
- Status
- Administration ended
- Administration began
- 2021-11-01
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Green Network Trading UK PLC; Green Network PLC
- Incorporated
- 2012-10-05
- Location
- Brighton
- Industry
- 35140 Trade of electricity
From the administrators' statement
The Company was incorporated on 5 October 2012 under company number 08241751. The Company was previously known as Green Network Trading UK Plc, until 9 July 2015. The Company is registered in the UK.
As well as being an intermediate holding company in the Green Network group of Companies (the “Group”), GNUK was party to a number of contracts relating to the physical supply of power and was involved in financial trading activity (including financial swaps) in gas, carbon and power markets, principally under International Swaps and Derivatives Association (“ISDA”) and European Federation of Energy Trader (“EFET”) master service agreements. In relation to its financial trading activity, the Company had been granted an Ancillary Activities Exemption by the Financial Conduct Authority and, as a result, was not considered a regulated entity under the Financial Services and Markets Act 2020.
The Company operated in the UK with no overseas branches. At the time of our appointment, the Company had 7 employees, 3 of whom were made redundant shortly following our appointment. The remaining 4 employees were retained to assist with realisation of assets before being made redundant on 30 November 2021.
Administrators' statement of proposals (2022-01-04) · Companies House register