Waterside Cornwall Operations Limited (10777763): administration
- Status
- Administration ended
- Administration began
- 2020-03-17
- Administrators' firm
- Evelyn Partners
- Incorporated
- 2017-05-18
- Location
- London
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Property / lease costs
From the administrators' statement
The Prime Group as referenced in this report comprises the five companies that are now in administration. There is a wider Group structure, found at Appendix ll, of which PRDL is the ultimate parent company. This includes the entities Costa Property Holdings Ltd “CPHL”, Costa Support Ltd “CSL”, Colina Property Holdings Ltd “CPHL2” and Colina Support Ltd “CSL2”. The Costa and Colina entities are the property holding companies and operational companies for an inland site and coastal tand site in the Dominican Republic.
The Dominican Republic properties
LCF’s books and records confirm that toans totalling £49.3m are due from the Costa and Colina companies. The administrators of LCF, further to their continuing investigations, have very serious concerns as to the purpose of these loans and as to how those monies were allocated.
Administrators' statement of proposals (2020-05-22) · Companies House register