Forties Capital Ltd (09287431): administration
- Status
- Administration ended
- Administration began
- 2019-08-21
- Administrators
- Nicholas Edward Reed, Julian Pitts
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2014-10-30
- Location
- Leeds
- Industry
- 74909 Other professional, scientific and technical activities n.e.c.
From the administrators' statement
The Company was incorporated on 30 October 2014, and was registered at Suite 7, Seven Hills Business Centre, South Street, Leeds, LS27 BAT. CET Holdings Limited (‘CETH”) is the holding company of the Company and benefits from a debenture over the Company. Mr Michael Tyler is the Company's sole registered Director at the Registrar of Companies.
CETH also owns the entire share capital of Clean Energy Trading Limited (now in Administration) (“CET”), with wham the Company entered into transactions comprising emissions allowances and a loan, further details in respect of which are set out below.
The Company received approximately £6.75m from CET, which it used to purchase shares in an entity in the technology sector named Magpie Technologies Limited (“Magpie”) which is registered in the British Virgin Islands. Subsequently, the Company returned these shares to CET in part settlement of its loan from CET.
Administrators' statement of proposals (2019-10-11) · Companies House register