Insolvency Practitioner News from April 2017
The Licensed Insolvency Practitioner Team at Antony Batty and Co. are Appointed to 4 new cases.
Our Insolvency Practitioner team was appointed to act for the following 4 clients in April 2017. They cover different industries, with two of the companies involved in overseas work, giving a flavour of the range and scale of our insolvency work.
ABC sells Surinamese Gold mine
Insolvency Practitioner Antony Batty is delighted to announce, as Liquidator of Hunter Bay PLC, the sale of the of the Company’s interest in a licence to mine for Gold in an area of Suriname, known as Sela Kriki. The sale to a Canadian mining company, North79 Limited took over twelve months to negotiate and to deal with the local formalities and legal issues.
The sale consideration was in excess of $300,000. Completion took place between lawyers in Uruguay, Canada and Reading. Antony was assisted by Sarah Wege in ABC’s London Office who managed the sale process. Suriname is the smallest country in South America, with a population of half a million people. The sale and legal formalities were dealt with in Uruguay. As this was the Company’s only asset, the Liquidator and professional advisors all worked on a speculative basis, it is particularly pleasing that all their efforts finally paid off.
The Private Search Company
W A Batty of Antony Batty & Company has been appointed Liquidator of The Private Search Company. The company based in Lymington, Hampshire provided Art Advisory Services across Europe and the US acting as an intermediary between sellers and buyers of art work. Over recent years the art advisory market has experienced many changes, in particular to the way auction houses work. In addition the company’s major US customer has also been placed into Administration.
Just Fab Cards and Gifts Limited
W A Batty has been appointed Liquidator of Just Fab Cards and Gifts Limited. The Dorset based Company sold cards and gifts through the online market. The director attributes the Company’s failure to increased online retailer costs together with competitors’ ability to offer similar products for less.
Green Clean (Chesham) Limited
W A Batty has been appointed Liquidator of Green Clean (Chesham) Limited. This Franchise business cleaned commercial and domestic wheelie bins in the Chiltern District. Having traded for 13 years in 2016 there was a marked decline in turnover.
Contact our Insolvency Practitioner Team for Help and Advice with Insolvency
If Liquidation is the only option, then our aim is to ensure that the process is carried out in a professional and dignified way. However, we have experience and expertise across all areas of insolvency, including administrations and Company Voluntary Arrangements. We also help businesses recover.