# Norpalm Holdings Limited (11453035)

> Why UK company 11453035 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/11453035

- **Status:** Administration ended
- **Administration began:** 2019-05-21
- **Administrators:** Jamie Taylor, Gary Paul Shankland
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2018-07-06
- **Location:** Brighton
- **Industry:** 64209 Activities of other holding companies n.e.c.

## From the administrators' statement

The Company is part of the Norpalm group of companies and is a wholly owned subsidiary of Norpalm AS (‘Norpalm AS”), a Norwegian registered entity. The Company is a non-trading holding company whose principal and only asset is its wholly owned subsidiary, Norpalm Intermediary Limited (“NtLtd”). In turn, NILtd’s principal and only asset is its investment in a joint venture, namely Norpalm Ghana Ltd, a producer of Palm Oil principally for the domestic (Ghanaian) market (“the Ghanaian JV’).

The circumstances giving rise to our appointment are the subject of a dispute between the Company’s parent Norpalm AS and our appointor NOPA Funding, LLC (a US registered entity) ((NOPA”). Given as will be explained in these Proposals, the Company will be rescued as a going concern (3(1)(a) mentioned above) and restored to its Directors and Shareholders, we do not consider it necessary to expand further for the purposes of these Proposals.

We have been appointed as Administrators of the Company by NOPA pursuant to the terms of their floating charge dated 4 October 2018 which is secured over the principal asset of the Company (NILtd), in respect of a debt owed by Norpalm AS to NOPA.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/11453035/filing-history/MzIzOTQwOTI3M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/11453035

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.