# Prime Energy Markets Limited (SC541970)

> Why UK company SC541970 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC541970

- **Status:** In administration
- **Administration began:** 2025-07-25
- **Administrators:** Michael Kiely, Andrew Andronikou, Ian William Wright
- **Administrators' firm:** Quantuma
- **Formerly:** Prime OIL Trading Limited; Permagard (Europe) Limited
- **Incorporated:** 2016-08-04
- **Location:** Edinburgh
- **Industry:** 66120 Security and commodity contracts dealing activities

## Why it went into administration

- HMRC / tax arrears

## From the administrators' statement

Quantuma were first approached by the Company on 12 June 2025 and were subsequently engaged on 10 July 2025. The Company was introduced to Quantuma by its solicitors, Mishcon de Reya.

The director was seeking professional advice regarding the Company’s financial position following the inability to continue trade due to HMRC debt and non-repayment of the Dubai loan.

From these discussions it was identified that the Company was insolvent by statutory definition and that steps should be taken to place the Company into Administration and appoint Joint Administrators.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC541970/filing-history/MzQ4MTEyNjk2OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC541970

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