Monarch Park Homes Limited (SC283577): administration
- Status
- Administration ended
- Administration began
- 2012-09-10
- Administrators
- John Bruce Cartwright
- Administrators' firm
- PwC
- Incorporated
- 2005-04-21
- Location
- Edinburgh
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Property / lease costs
From the administrators' statement
The Company’s assets were secured by a bond and floating charge with Dunfermline Building Society (in Building Society Special Administration) (“DBS”). The Company defaulted on its facilities with DBS and DBS, acting through its Joint Building Society Special Administrators, appointed Administrators to the Company on 10 September 2012. On the same date, Administrators were appointed to the following associated companies: Airdrie North Limited; Fife Regeneration Partnership Limited; Gillespie (Bath Street) Limited and GM Drumshangie Limited (“the Group”). DBS also has cross guarantees in place across the Group.
The manner in which the Company’s affairs and business have been managed and financed _
The Joint Administrators have appointed Rettie & Co as property managers to act as property agents and to manage the continued rental of the occupied properties. They have made contact with all tenants and will now collect rent on behalf of the Company and continue to liaise with individual tenants regarding their ongoing occupation of the properties. There has been no requirement for external funding as funds have been received from 2 bank accounts operated by the Company.
Administrators' statement of proposals (2012-11-05) · Companies House register