# Hydrogen Vehicle Systems Ltd (SC576231)

> Why UK company SC576231 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/SC576231

- **Status:** In administration
- **Administration began:** 2025-10-06
- **Administrators:** Paul Dounis, Mark Harper
- **Administrators' firm:** Opus Restructuring
- **Formerly:** HV Systems Ltd
- **Incorporated:** 2017-09-13
- **Location:** Edinburgh
- **Industry:** 29100 Manufacture of motor vehicles

## From the administrators' statement

Paul Dounis, formerly of RSM UK Restructuring Advisory LLP (“RSM”) until 31 March 2025 and now of Opus Restructuring LLP (“Opus”), was first introduced to the directors in October 2024 by Mike Ward of The CFO Centre.

The Company subsequently engaged RSM on 8 March 2025 to explore the market for any interested parties who could make a suitable offer for the Company and/or its business and assets. Following the engagement and further discussions with the directors, an accelerated mergers & acquisitions (“AMA”) process was carried out with a view to executing a transaction via

_ @ pre-packaged administration. Please note that this process was initially commenced by RSM before being continued by Opus after 1 April 2025.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/SC576231/filing-history/MzQ4NTA1NTk0MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/SC576231

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