Murfet Group Limited (09837943): administration
- Status
- Administration ended
- Administration began
- 2022-01-24
- Administrators
- Benjamin Neil Jones, Arvindar Jit Singh
- Administrators' firm
- FRP Advisory
- Incorporated
- 2015-10-22
- Location
- Birmingham
- Industry
- 41202 Construction of domestic buildings
From the administrators' statement
As detailed above, Merchant Money were afforded a corporate cross-guarantee in respect of monies advanced to the Borrower in May 2019. In security, Merchant Money obtained a second (equitable) charge over the Properties together with a debenture covering the wider property of the Company.
It is understood that the Borrower initially defaulted in their repayments to Merchant Money in April 2020. Merchant Money approached the Former Director on multiple occasions and engaged in significant dialogue in an effort to find a resolution. Such efforts extended to Merchant Money's willingness to explore a restructure of existing finance agreements. The arrears were later paid, and the debts successfully restructured.
Murfet Group Limited The Joint Administrators’ Proposals
Administrators' statement of proposals (2022-03-18) · Companies House register