Greek Properties I LLP (OC349017): administration
- Status
- Administration ended
- Administration began
- 2014-08-14
- Administrators
- Ryan Kevin Grant, Catherine Williamson, Lee Causer
- Administrators' firm
- AlixPartners
- Formerly
- Commercial Estates Properties I LLP
- Incorporated
- 2009-09-28
- Location
- Manchester
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Partnerships were all incorporated in September 2009 and their main activity was commercial property investment. Together they owned three commercia\ freehotd properties based in Swindon, Tonbridge and Maidstone (the Properties). This report does not provide further detail regarding the Properties or the proposed disposal strategies as this will be deatt with separately by the appointed LPA Receivers.
The Administrators have an interest in the Properties to the extent that any surplus that would be availabte to the Administrations once the secured lender has been repaid in full. The inftial information received from the LPA Receivers is it is unlikely that the Properties will achteve values in excess of the Partnerships’ secured debt. Therefore, the Administrators will not be directly involved {n the realisation of the Properties, but they will be kept appraised of the sates process by the LPA Receivers.
The Partnerships granted debentures in December 2009 in favour of Anglo Irish Bank Corporation Limited. In 2014, Angto Irish Bank Corporation Limited changed its name to trish Bank Resolution Corporation Limited (IBRC). On 7 February 2013, IBRC was placed into Special Liquidation pursuant to section 4 of the Irish Bank Resolution Corporation Act. On
Administrators' statement of proposals (2014-10-16) · Companies House register