# Stargale Limited (SC304216)

> Why UK company SC304216 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC304216

- **Status:** Administration ended
- **Administration began:** 2012-08-24
- **Administrators:** Paul Dounis, David M Menzies
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2006-06-19
- **Location:** Edinburgh
- **Industry:** 41100 Development of building projects

## From the administrators' statement

The appointment of the Joint Administrators was made by Clydesdale Bank plc ("the Bank’) as the holder of a qualifying floating charge.

The company operated as a property developer and had developed a site known as Strathbeg Court in Airdrie. This site is the only known property asset at the time of appointment and consists of a portfolio of 10 flats, all of which are currently tenanted. The units produce an annual rental income of £63,300.

The former director of Stargale Limited, Robert Wilson is a Trustee of a Discretionary Trust (“the Trust’) which owns a further two units within the Airdrie development. Stargale Limited provided a corporate guarantee supported by a standard security and a floating charge in respect of funding provided by the Bank to the Trust. The Trust was in default of its payments and as a consequence of the guarantee, the Bank appointed us as Administrators of the Company.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC304216/filing-history/MzA2NTg5Nzk4NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC304216

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