Panache Leasing Ltd (09567371): administration
- Status
- Administration ended
- Administration began
- 2023-09-04
- Administrators' firm
- RG Insolvency
- Incorporated
- 2015-04-29
- Location
- London
- Industry
- 77110 Renting and leasing of cars and light motor vehicles
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Property / lease costs
- Rising costs / inflation
From the administrators' statement
The Company was incorporated on 29 April 2015 by the sole director, Syed Ahmed. His brother, Tipu Ahmed, initially acted as the Company’s General Manager but did not hold office. The registered office of the Company on incorporation was Hill Lodge, Raleys End, Dunmow CM6 3PT.
The Company was incorporated with share capital of £1 made up of one ordinary share of £1 held by Syed Ahmed. According to the first annual confirmation statement dated 29 April 2016, share capital had increased to 10,000 ordinary shares of £1 each fully paid up and held by Syed Ahmed. However, there is no record of an allotment of shares in this regard. On 29 January 2018, documents filed at Companies House report an allotment of 90,000 ordinary shares of £1 each fully paid up and held by Syed Ahmed, making a total share capital of £100,000 held entirely by Syed Ahmed.
On 3 March 2023, following litigation between Syed and Tipu Ahmed, the High Court ordered that 50% of the Company’s shares be transferred to Tipu Ahmed. This was duly effected.
Administrators' statement of proposals (2023-11-07) · Companies House register