From the administrators' statement

3.1 The Company had exhausted its available cash resources and its cash constraints were impacting on its ability to continue defending the litigation and achieving a sale of the property, A Court hearing relating to the litigation was due to be heard on 8th November 2017.

3.2 Opus Restructuring LLP were approached on 27 October 2017 to advise the Company on the options available. The possibility of placing the Company into Liquidation was considered however it was decided that this was not the best course of action to take, given the imminent property sale and Court hearing, as under the liquidation process it would take at least a week to effect the appointment of Joint Liquidators.

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Home County Developments Limited (09044985)

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