Upper Clapton Limited (08693934): administration
- Status
- Administration ended
- Administration began
- 2023-12-01
- Administrators
- Philip Lewis Armstrong, Philip James Watkins
- Administrators' firm
- FRP Advisory
- Incorporated
- 2013-09-17
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
Pursuant to the Facility Agreement, non-payment on the due date of any amount payable pursuant to the security and loan documentation would amount to an event of default. The Company failed repay amounts borrowed under the Facility Agreement by 17 July 2023, being the termination date.
Furthermore, the Facility Agreement provided for an event of default should any corporate action, legal proceedings or other procedure be taken in relation the appointment of a liquidator over the Company.
On 2 August 2023, a winding up petition was presented to the High Court against the Company by HMRC in the sum of £661k, including surcharges and penalties. The winding up petition was initially listed for hearing on 13 September 2023 but this was subsequently adjourned to 6 December 2023.
Administrators' statement of proposals (2024-01-31) · Companies House register