One Islington Plaza Ltd (09611805): administration
- Status
- Administration ended
- Administration began
- 2021-11-13
- Administrators
- Paul Andrew Zalkin, Simon Campbell
- Administrators' firm
- Quantuma
- Formerly
- Birchen House Development Ltd
- Incorporated
- 2015-05-28
- Location
- Southampton
- Industry
- 41100 Development of building projects
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
From the administrators' statement
2.1 We understand that there was significant disquiet amonst the investors due to nonpayment of rent. A number of groups of investors were reported to be planning legal action against the company, potentially trying to wind the Company up.
2.2 Quantuma Advisory Limited were first approached by the Route Finance Limited on 11 November 2020 who advised they wanted to protect the building and business from the consequences of its insolvency, and take control of the situation. As a result, Simon Campbell and Paul Zalkin of QUantuma Advisory Limited were appointed as Joint Administrators of the Company on 13 November 2020.
3.2 Attached at Appendix Ill is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
Administrators' statement of proposals (2021-01-08) · Companies House register