Philip Politi Properties Limited (SC259288): administration
- Status
- Administration ended
- Administration began
- 2012-10-05
- Administrators
- Brian William Milne, Eileen Blackburn
- Administrators' firm
- Quantuma
- Incorporated
- 2003-11-14
- Location
- Edinburgh
- Industry
- 68201 Renting and operating of Housing Association real estate
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
From the administrators' statement
Based on the discussions with the Directors and our investigations to date, the insolvency of the company was largely due to the following factors:
• The company’s bank, The Royal Bank of Scotland was unable to offer the same product of lending and the company failed to take steps to refinance with another lender in order to settle the sums due to The Royal Bank of Scotland.
Objective of the Administration The main objective of following the Administration route is (c) below.
Administrators' statement of proposals (2012-11-29) · Companies House register