Westerdale Realisations Limited (SC177643): administration
- Status
- Administration ended
- Administration began
- 2013-05-13
- Administrators' firm
- RSM
- Formerly
- Mowat Technical & Design Services Ltd.; Mowat Draughting Services Limited
- Incorporated
- 1997-08-01
- Location
- Aberdeen
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in August 1997 and traded from a purpose built facility at Achlibster, Westerdale, Halkirk, Caithness, KW12 6UP. Their principal activity of the business was the provision of professional design services, surveying, fabrication and manufacturing. The company was placed into Administration by the directors as a result of cash flow problems which had arisen when a proposed sale of Intellectual Property Rights (“IPR”) failed to conclude.
The Directors were introduced to RSM Tenon Restructuring on 29 April 2013 and on 30 April 2013 lodged Notice of Intention to Appoint Administrators at Wick Sheriff Court. Following this document being lodged the Company continued to trade whilst they liaised with a prospective purchaser of the IPR. Unfortunately the interested party formally withdrew their interest and the Administration progressed.
Upon instruction from the Company RSM Tenon Restructuring prepared and circulated a sales memorandum in respect of the business and assets of the Company and liaised with interested parties.
Administrators' statement of proposals (2013-07-04) · Companies House register