ACG Realisations Limited (10678947): administration
- Status
- Administration ended
- Administration began
- 2020-01-13
- Administrators
- Simon Jagger, Ben David Woodthorpe
- Administrators' firm
- ReSolve
- Formerly
- Atlas City Global Limited; Atlas City Finance Limited
- Incorporated
- 2017-03-20
- Location
- London
- Industry
- 62012 Business and domestic software development
Why it went into administration
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
Background Atlas was incorporated in March 2017 by Darren and Joanna Oliverio-Priestnall.
Mr Oliverio-Priestnall has extensive experience in the software engineering and technology industry leading teams for major technology companies and operating his own consultancy services agency for over ten years. Through Mr Oliverio-Priestnall’s consultancy work he found several clients expressed a desire to use blockchain, however were thwarted by the practical scalability of existing blockchain networks.
in view of the above, the Company was incorporated with plans to develop a new full stack of technologies, spanning distributed ledger technology (of which blockchain is one type), decentralised file storage and decentralised computing for large industrial users to meet the offering clients had expressed an interest in. The directors considered that if a more practical blockchain approach could be unlocked there would be opportunities for business on a global scale.
Administrators' statement of proposals (2020-01-23) · Companies House register