From the administrators' statement

The Company was effected by the economic downturn which resulted in a reduction in property values and trading performance. As a consequence, the Company was unable to services its liabilities as they fell due and had been in discussions with The Royal Bank of Scotland plc ("the Bank") with a view to reaching a consensual solution.

On 1 July 2014 HM Revenue & Customs lodged a winding up petition at Duns Sheriff Coutt with a view to appointing a Liquidator.

In the circumstances, the Bank had no alternative but to take steps to place the Company into Administration and on 28 July 2014 appointed the Joint Administrators in accordance with Paragraph 14 of Schedule B1 to the Insolvency Act 1986.

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Arrowhead Housing Limited (SC225850)

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