# Alburn (Livingston 1) Limited (SC238376)

> Why UK company SC238376 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC238376

- **Status:** Administration ended
- **Administration began:** 2012-05-22
- **Administrators' firm:** Moorfields
- **Formerly:** Coleridge (No. 23) Limited
- **Incorporated:** 2002-10-18
- **Location:** Edinburgh
- **Industry:** 68100 Buying and selling of own real estate

## Why it went into administration

- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Property / lease costs

## From the administrators' statement

The Company was incorporated on 18 October 2002 and is part of a group of 24 companies (“the Group”) financed under a cross-company guarantee.

The Company’s principal business interest is that of property investment with a property in South Livingston, Scotland.

In April 2012 a strategic independent restructuring review of the Group was completed following a failed negotiation to extend the loan out to the final legal maturity date of the securitised bonds. This re-valued the portfolio at a substantial discount to the original 2006 valuation. N M Rothschild, the primary servicer, upon advice, decided to accelerate the repayment of the defaulted loan and pursue a managed and structured disposal strategy for the portfolio through the appointment of Fixed Charge Receivers and Administrators.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC238376/filing-history/MzA2MDkwOTgyNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC238376

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.