POWERBOAT GP LIMITED IN LIQUIDATION

Posted in Powerboat GP Limited on June 29th, 2016 by wrong

THE INSOLVENCY ACT 1986

IN THE HIGH COURT OF JUSTICE                                                               005102 of 2015

IN THE MATTER OF

POWERBOAT GP LIMITED IN LIQUIDATION

Company Registered Number:08520861

VAT registration number: 169 6830 61

The winding up order was made on 8 February 2016, on the petition of Commissioners for

HM Revenue & Customs presented on 28 July 2015.

This is my report to creditors under Rule 4.43 of the Insolvency Rules 1986.

Information relating to the assets and liabilities of which I am aware follows.

 

TOTAL LIABILITIES                                                                                                                            £32,503,078.00

 

The liabilities above include issued and paid up capital of £100.00.

The company claims to have book debts totalling £30,000,000 from the sale of digital rights.

On the basis of the above information there appears to be a prospect of a distribution to Creditors.

Any distribution made will depend on the value of the assets realised and the costs of the winding-up proceedings.

According to the information held by the Registrar of Companies the director(s) of the company are:

Name                                                                  Appointed

Jason Marcus Brewer                                       8 May 2013

LUKE JONES                                                    8 May 2013

The company was incorporated on 8 May 2013 and carried on business under the following trade style(s):

o      Powerboat GP Limited

The last registered office was at Millennium House, Lime Kiln Way, LINCOLN, LN2 4US.

The company also traded from the following premises:

0      Heydour House, Heydour, GRANTHAM, Llncolnshlre, NG32 3NG

Luke Jones, a director of the company states that:

the company was formed in order to try to secure sponsorship for a racing event, Powerboat GP Limited. The rights to the event are held by an associate company, Affinity Partnerships. Powerboat GP is currently run in the UK and shown on SKY TV and the director was looking to find an investor to run the event in the Middle East and Turkey. The contract was sold to Manx Dreams Limited for £30,000,000 to be paid in instalments over the next 10 years. An invoice dated 28/02/2015 was issued with the first instalment to be paid by 30/04/2015. He states that Manx Dreams Limited had been due for a VAT rebate from HMRC in connection with the purchase but HMRC had refused to pay it and as such it had no money to pay the first instalment due. This company submitted a VAT return to HMRC which, as it had not received any payment from Manx Dreams Limited, it was unable to pay and HMRC issued a winding up petition.

Luke Jones attributes the failure of the company to: Failure of client to the invoice after issue

The Official Receiver has applied to the Secretary of State to appoint Mr S Biddlecombe of HJS Recovery of 12-14 Carlton Place, Southampton, SO15 2EA, and Mr G Johnston

of HJS Recovery of 12-14 Carlton Place, Sounthampton, SO15 2EA as |iquldator(s) of the company’s estate. Enquiries about realisation of assets and creditors‘ claims should be addressed to the liquidator, not to my office.

Enquiries concerning this report should be addressed to V Radford, at the address below; telephone number 01158525051. When telephoning or writing, please quote the full name of the case.

I will be pleased to receive from creditors useful information concerning the company, its dealings or property, together with particulars of any written or oral statement made in connection with its financial position. Possible breaches of the insolvency legislation may be reported directly to me or by using The Insolvency Service’s 24 hour hotline on 0300 678 0017.

Date 24 March 2016

A Draycott

Official Receiver

 

 

 

 

Powerboat GP Limited – Appointment of Liquidators

Posted in Powerboat GP Limited on June 29th, 2016 by wrong

Appointment of Liquidators
In the Lincoln County Court

No 005102 of 2015

POWERBOAT GP LIMITED

(Company Number 08520861)

Registered office: c/o HJS Recovery, 12-14 Carlton Place, Southampton SO15 2EA

Principal trading address: Millennium House, Lime Kiln Way, Lincoln LN2 4US

In accordance with Rule 4.106A Shane Biddlecombe and Gordon Johnston of HJS Recovery, 12-14 Carlton Place, Southampton, Hampshire SO15 2EA, give notice that they were appointed Joint Liquidators of the Company on 29 March 2016.

Creditors of the Company are required to send in their full names, their addresses and descriptions, full particulars of their debts or claims and the names and addresses of their solicitors (if any) to the undersigned Shane Biddlecombe of HJS Recovery, 12-14 Carlton Place, Southampton, Hampshire SO15 2EA, the Joint Liquidator of the Company, and if so required by notice in writing, to prove their debts or claims at such time and place as shall be specified in such notice, or in default shall be excluded from the benefit of any distribution.

Further Details are available from: Karl Lovatt, Karl.lovatt@hjssolutions.co.uk, 023 8023 4222

Shane Biddlecombe, Office Holder Number: 9425 and Gordon Johnston, Office Holder Number: 8616, Joint Liquidators, HJS Recovery, 12-14 Carlton Place, Southampton, Hampshire SO15 2EA.

Powerboat GP Limited

Posted in Powerboat GP Limited on June 29th, 2016 by wrong

POWERBOAT GP LIMITED

(Company Number 08520861)

Trading Name: Powerboat GP Limited

Previous Name of Company: None known

Registered office: Millennium House, Lime Kiln Way, LINCOLN, LN2 4US

In the High Court Of Justice

No 005102 of 2015

Date of Filing Petition: 28 July 2015

Date of Winding-up Order: 8 February 2016

A DraycottApex Court, City Link, NOTTINGHAM, NG2 4LA, telephone: 0115 852 5000, email: Nottingham.OR@insolvency.gsi.gov.uk

Capacity of office holder(s): Official Receiver

8 February 2016