Prestbury Property Developments Limited (09777427): administration
- Status
- In administration
- Administration began
- 2018-02-23
- Administrators
- Arron Simon Kendall, Milan Vuceljic
- Administrators' firm
- Moorfields
- Incorporated
- 2015-09-15
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
- Management failings / irregularities
- Regulatory change or action
From the administrators' statement
« Moneything provided a loan facility to the Company in order to fund the construction costs of the Development.
• In Q4 of 2017, Moneything instructed surveyors to provide a report on progress of the Development pursuant to the terms of their facility.
• The report from the surveyor raised significant concerns with regard to the project timetable and works undertaken to date in view of the funds already drawn down.
Administrators' statement of proposals (2018-04-27) · Companies House register