Boltro Developments Limited (09983445): administration
- Status
- Administration ended
- Administration began
- 2022-11-24
- Administrators
- Mark Blackman, Steven Muncaster
- Administrators' firm
- Kroll
- Incorporated
- 2016-02-02
- Location
- Manchester
- Industry
- 41202 Construction of domestic buildings
From the administrators' statement
As noted previously in Section 2, Kroll were approached by Shawbrook prior to the Appointment Date in order to discuss the recovery options available to them with respect of their outstanding liability.
The Company granted Shawbrook a fixed and floating charge debenture over all assets of the Company in respect of monies advanced. In the period prior to the Appointment Date, the Secured Lender had encountered difficulties in obtaining updates on the progress of the two developments and the marketing of the Properties, to enable repayment of their outstanding indebtedness. In addition, Shawbrook had been unable to contact the Director and therefore had concerns as to the recoverability to their debt.
Kroll discussed the options available to Shawbrook in their capacity as the holder of a fixed and floating charge over the assets of the Company. The advice consisted of a strategic review and ultimately advice on how an Administration would work under the circumstances and the likely outcome for them as a Secured Creditor.
Administrators' statement of proposals (2023-01-19) · Companies House register