Adamo Property Group Ltd (12726909): administration
- Status
- Administration ended
- Administration began
- 2024-03-12
- Incorporated
- 2020-07-07
- Location
- Grimsby
- Industry
- 68320 Management of real estate on a fee or contract basis
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided by the Board of Directors (‘the Board") of the Company and not from our personal knowledge as Joint Administrators.
As Joint Administrators of Hall Wood Forest Developments Ltd it has been reported that the bank statements show some £2.3 million of net funds have been transferred to a connected company and matters regarding this are ongoing. It can now be reported that Adamo Property Group Ltd (‘the Company’) was listed as a potential recipient of some of the substantial funds referred to.
To assist the investigations it was necessary to better control the financial affairs of the Company, so it was duly placed into Administration by a secured creditor. The secured creditor had concerns over the ability to recover their indebtedness, so exercised their security rights to appoint an Administrator.
Administrators' statement of proposals (2024-05-10) · Companies House register