Free Wind ISA Bond Ltd (SC626801): administration
- Status
- In administration
- Administration began
- 2022-12-08
- Administrators
- Charles Howard Ranby-Gorwood, David Mcginness
- Administrators' firm
- Begbies Traynor
- Formerly
- FRE ISA Bond 1 Ltd
- Incorporated
- 2019-04-05
- Location
- Glasgow
- Industry
- 68209 Other letting and operating of own or leased real estate
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to the Joint Administrators by third parties or the director of the Company, and may not be from our personal knowledge as Joint Administrators.
The Company was incorporated on 5 April 2019, with its current director, Brian Duffy being the sole director since incorporation. The Company shareholders are related companies, namely Future Renewable Eco Energy Ltd (in Administration) and Randolph Renewables Limited, Mr Duffy is a common director of the same.
The Company is understood to have purchased the shares of Future (Newry) Limited and a wind turbine from Future Renewables Eco PLC on 12 September 2019 for some £1, 750,000. The funding is understood to have originated substantially from bond holders, and there is a suggestion that there still remains some £312,000 owed to Future Renewables Eco PLC.
Administrators' statement of proposals (2023-02-02) · Companies House register