Bagshot Manor Developments Limited (11037712): administration
- Status
- Administration ended
- Administration began
- 2023-04-21
- Administrators
- Arron Simon Kendall, Milan Vuceljic
- Administrators' firm
- Moorfields
- Incorporated
- 2017-10-30
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The failure to convert marketing interest into a performable offer left the Company in a position where it was unable to repay its debts. In accordance with the terms of the facility agreement, Oaknorth has the power to appoint an Administrator over the Company in the event that any sums owed under the facility agreement are due and payable. Oaknorth had lost confidence in the ability of the Company to complete the sales process following several events of default which had occurred in breach of the terms of the facility. The facility had not been repaid and, as such, the qualifying floating charge was enforceable in accordance with paragraph 16 Schedule B11 of the Act.
On 21 April 2023, Arron Kendall and Milan Vuceljic of Moorfields were appointed Joint Administrators of the Company following the filing of a Notice of Appointment of Administrators by Oaknorth.
The Joint Administrators confirm that they are authorised to carry out all functions, duties and powers by either one or both of them.
Administrators' statement of proposals (2023-06-20) · Companies House register