Anglo Continental Property LLP (OC331081): administration
- Status
- Administration ended
- Administration began
- 2011-04-07
- Administrators
- James Bernard Stephen, Tracey Lee Pye
- Administrators' firm
- BDO
- Incorporated
- 2007-09-04
- Location
- Manchester
Why it went into administration
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated in September 2007 to hold an investment property registered in Scotland, being the Company’s freehold property at Block 5, Umit 2, Wester Gordie Industrial Estate, Dundee, DD2 4UH (‘the Property”) The Company was set-up by the current recorded members, Adele Susan Callan, Kevin Anthony Devine and Andrew Wall (“the Members”).
The purchase was funded through a term loan and overdraft facility provided by The Royal Bank of Scotland (“the Bank”). The Bank secured its lend by way of a debenture and a legal charge. The Company, in order to raise this funding, entered into a cross guarantee (“the Cross Guarantee”) for the facilities with the proposed tenant, Sella Office Furniture Limited (“Sella”). Sella was connected to the Company by common Directors and Members The Bank’s position and cross guarantee is discussed further at point 7.1.2.
ee] 23 May 2011
Administrators' statement of proposals (2011-05-27) · Companies House register