BYM Capital Limited (09862005): administration
- Status
- In administration
- Administration began
- 2023-10-19
- Administrators
- Philip Lewis Armstrong, Philip James Watkins
- Administrators' firm
- FRP Advisory
- Formerly
- Altitude Finance Ltd
- Incorporated
- 2015-11-09
- Location
- London
- Industry
- 68310 Real estate agencies
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The Company was incorporated on 9 November 2015 and is variously the sole owner or has joint ownership interests in property-holding SPVs. In addition, the Company holds intercompany positions with the wider Group to which it provided management and finance services. A structure chart is attached at Appendix A.
Business & operations
The wider Group operated as a real estate investment and development business, carried out through a network of SPVs, owned wholly by the Company, personally by its directors (directly or through a separate corporate vehicle), or jointly with other parties. These SPVs purchased and in many cases carried out the development of land and property using various third-party professionals, contractors, and subcontractors, with funding provided by a range of investors, including various senior and mezzanine lenders.
Administrators' statement of proposals (2023-12-21) · Companies House register