Pikeville Investments LLP (OC303531): administration
- Status
- Administration ended
- Administration began
- 2015-08-06
- Administrators
- Stephen Mark Katz, David Rubin
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-12-10
- Location
- London
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
I was appointed together with my partner David Rubin as Jomt Receiver Manager of the membership interests in the Company, pursuant to an Order of Chnistopher Butcher QC sitting as a Deputy Judge in the High Court dated 21 July 2015 in proceedings commenced by JSC VTB Bank (a company incorporated in Russia) (“VTB”) against Pavel Skunkhin (“Mr Skurikhin”), the Company and another in the Commercial Court Claim No 2012-1105 (“the Commercial Court Proceedings”)
In the Commercial Court Proceedings by an Application Notice dated 16 December 2014, VTB sought the appointment pursuant to s 37 of the Senior Courts Act 1981 of receivers over the LLP membership interests in Pikeville by way of equitable execution (“the Receivership Application”) The appointment was sought to enforce money judgments which VTB had obtained against Mr Skurikhin by Orders of the Commercial Court dated 7 March 2014 and 14 November 2014 The Sterling equivalent of the Rouble sums for which those judgments made 1s understood to be in the region of £15 million
The Company owns three valuable properties in Italy (“the Properties”) which, according to the Company’s latest financial statements, are understood to be valued at a total of circa €17 million The Recetvership Application sought the appointment of equitable receivers of the membership shares in the Company (which VTB contended were beneficially owned by Mr Skunkhin) in order that (1) the Properties could be sold and the net proceeds of sale realised for the benefit of VTB and other creditors of Mr Skurikhin, and/or (11) to place the Company into Administration so that its net assets, after the discharge of any genuine Company debts, may be realised and applied for the benefit of VTB and the other creditors of Mr Skurikhin
Administrators' statement of proposals (2015-09-17) · Companies House register