Abbey View Homes Limited (10530490): administration
- Status
- Administration ended
- Administration began
- 2019-09-06
- Administrators
- Michael Kiely, Gary Thompson
- Administrators' firm
- Quantuma
- Incorporated
- 2016-12-17
- Location
- Upminster
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
With no further funding being made available by Amicus in the short term, the Company experienced severe cash flow problems leading to threats by creditors to wind-up the Company. The Directors sought independent insolvency advice and a Notice of Intention to Appoint Administrators (“NOIA”} was filed at Court on 30 August 2019 by the Directors and was served on Amicus as QFCH on 2 September 2019. The NOIA provided the Company with the necessary protection from its creditors.
Aspect Plus Limited were approached by Amicus, acting by its Joint Administrators, to act as Joint Administrators of the Company. Prior to this, neither Aspect Plus Limited or its Directors had any professional relationship with the Company.
On 6 September 2019, Michael Wellard and Darren Edwards were appointed Joint Administrators of the Company by an order of the High Court, Business and Property Courts of England and Wales number 5807 of 2019 pursuant to Paragraph 18 of Schedule B1 to the IA86.
Administrators' statement of proposals (2019-11-02) · Companies House register