EV Metals UK Limited (11086144): administration
- Status
- Administration ended
- Administration began
- 2024-08-05
- Administrators' firm
- Opus Restructuring
- Formerly
- EV Metals Limited
- Incorporated
- 2017-11-28
- Location
- Milton Keynes
- Industry
- 72190 Other research and experimental development on natural sciences and engineering
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Further to the above background, prior to commencement of the Administration, Opus acted as advisors to the Board of Directors in relation to the options for the Company. Mindful of the potential future appointment of their Insolvency Practitioners as Joint Administrators, Opus made clear that its role was not to advise any director personally, or any party expressing an interest in purchasing the Company’s assets; Opus has maintained independence at all times.
At all times prior to Administration, the Board of Directors remained responsible for and in control of the Company’s affairs. During this time, the Insolvency Practitioners took their own steps to prepare for their potential appointment as Joint Administrators.
To provide some further detail, Frederick Charles Satow and Paul Michael Davis had been engaged by EVMG on 12 January 2024, to advise on the EVMG cash flow forecast and cash flows and on the insolvency options open to EVMG, if required.
Administrators' statement of proposals (2024-10-02) · Companies House register