/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/250103.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Friday, January 3, 2025, Vol. 26, No. 3 Headlines U N I T E D K I N G D O M AB PAPERS: Quantuma Advisory Named as Administrators AGRS HOLDING: Rushtons Insolvency Named as Administrators BLAIN SOUTHERN: January 31 Proof of Claim Deadline Set ELEV8 ACCESS: FRP Advisory Named as Joint Administrators EMERDATA LIMITED: FRP Advisory Named as Administrators GREATER MANCHESTER: Opus Named as Joint Administrators HAWKMOOR LIMITED: Turpin Barker Named as Administrators KERACO CONSTRUCTION: Leonard Curtis Named as Joint Administrators MISTRAL RETAIL: Begbies Traynor Named as Joint Administrators PARAGON SCHEME: FRP Advisory Named as Joint Administrators REDFIELDS LANDSCAPING: FRP Advisory Named as Administrators STYLEMANIA LTD: Kroll Advisory Named as Joint Administrators X X X X X X X X [*] BOOK REVIEW: The First Junk Bond - - - - - =========================== U N I T E D K I N G D O M =========================== AB PAPERS: Quantuma Advisory Named as Administrators ---------------------------------------------------- AB Papers UK Limited was placed into administration proceedings in the High Court of Justice Business and Property Courts in Manchester, Court Number: CR-2024-MAN-001589, and Jeremy Woodside and Rehan Ahmed of Quantuma Advisory Limited, were appointed as administrators on Dec. 6, 2024. AB Papers UK is a manufacturer of corrugated paper and paperboard, sacks and bags. Its registered office is at Unit 29 Rassau Industrial Estate, Rassau, Ebbw Vale, NP23 5SD and it is in the process of being changed to The Lexicon, 10-12 Mount Street, Manchester, M2 5NT. Its principal trading address is at Unit 29 Rassau Industrial Estate, Rassau, Ebbw Vale, NP23 5SD. The administrators can be reached at: Jeremy Woodside Rehan Ahmed Quantuma Advisory Limited The Lexicon, 10-12 Mount Street Manchester, M2 5NT For further details, please contact: Heather Barnes Tel No: 01616 949 144 Email: Heather.Barnes@quantuma.com AGRS HOLDING: Rushtons Insolvency Named as Administrators --------------------------------------------------------- AGRS Holding Limited was placed into administration proceedings in the the High Court of Justice, Business and Property Courts In Manchester Insolvency and Companies List (ChD), Court Number: CR-2024-001209, and Nicola Baker of Rushtons Insolvency Limited was appointed as administrator on Nov. 21, 2024. AGRS Holding is a property holding company. Its registered office and principal trading address is at 27 St. Cuthberts Street, Bedford, MK40 3JG. The administrator can be reached at: Nicola Baker Rushtons Insolvency Limited 6 Festival Building, Ashley Lane Saltaire, BD17 7DQ Further Details Contact: Nicola Baker Tel No: 01274 598 585 Email: dwolski@rushtonsifs.co.uk Alternative contact: Dominic Wolski BLAIN SOUTHERN: January 31 Proof of Claim Deadline Set ------------------------------------------------------ Pursuant to Rule 14.28 of the Insolvency (England and Wales) Rules 2016, the Joint Liquidators intend to declare a first and final dividend to non-preferential unsecured creditors of Blain Southern Limited, including a distribution of the prescribed part, within the period of two months from the last date for proving. Creditors who have not yet done so must prove their debts by delivering their proofs (in the format specified in Rule 14.4) to the Joint Liquidators at 22 York Buildings, John Adam Street, London, WC2N 6JU, England, by no later than January 31, 2025 (the last date for proving). Creditors who have not proved their debt by the last date for proving may be excluded from the benefit of this dividend or any other dividend declared before their debt is proved. Chris Farrington and Simon Jagger were appointed as Joint Liquidators on February 24, 2022. The Joint Liquidators can be reached at: Evelyn Partners LLP RRS Dept 45 Gresham Street London, EC2V 7BG Contact: jane.baker@resolvegroupuk.com ELEV8 ACCESS: FRP Advisory Named as Joint Administrators -------------------------------------------------------- Elev8 Access Platforms Limited was placed into administration proceedings in the High Court of Justice Business and Property Courts in Manchester, Insolvency & Companies List (ChD), Court Number: CR-2024-001573, and John Anthony Lowe and Yasmin Bhikha of FRP Advisory Trading Limited, were appointed as joint administrators on Dec. 5, 2024. Elev8 Access specializes in construction activities. Its registered office is at Unit 2b, Clay Street, Off Newhall Road, Sheffield, S9 2PF in the process of being changed to c/o FRP Advisory Trading Limited, Ashcroft House, Ervington Court, Meridian Business Park, Leicester, LE19 1WL. Its principal trading address is at Unit 2b, Clay Street, Off Newhall Road, Sheffield, S9 2PF. The joint administrators can be reached at: John Anthony Lowe Yasmin Bhikha FRP Advisory Trading Limited Ashcroft House, Ervington Court Meridian Business Park, Leicester LE19 1WL For further details: The Joint Administrators Tel No: 0116 303 3333 Alternative contact: Shivraj Raja Email: cp.leicester@frpadvisory.com EMERDATA LIMITED: FRP Advisory Named as Administrators ------------------------------------------------------ Emerdata Limited was placed into administration proceedings in the High Court of Justice, Court Number: CR-2024-007478, and Ben Stanyon and Nedim Ailyan of FRP Advisory Trading Limited, were appointed as administrators on Dec. 9, 2024. Emerdata Limited specializes in data processing, hosting and related activities. Its registered office is at Griffin Law, 60 Churchill Square, Kings Hill, West Malling, ME19 4YU in the process of being changed to 4th Floor, Centre Block, Central Court, Knoll Rise, Orpington, BR6 0JA. The administrators can be reached at: Ben Stanyon Nedim Ailyan FRP Advisory Trading Limited 4th Floor, Centre Block Central Court, Knoll Rise Orpington, Kent, BR6 0JA Further Details Contact: The Administrators Tel: 020 8302 4344 Alternative contact for enquiries on proceedings: Ben Stanyon Email: cp.orpington@frpadvisory.com GREATER MANCHESTER: Opus Named as Joint Administrators ------------------------------------------------------ Greater Manchester Centre For Voluntary Organisation was placed into administration proceedings in the High Court of Justice Business and Property Courts in Leeds Insolvency and Companies List (ChD), Court Number: CR-2024-LDS-001166, and Charles Hamilton and Emma Mifsud of Opus Restructuring LLP, were appointed as administrators on Nov. 27, 2024. Its registered office and principal trading address is at The St Thomas Centre, Ardwick Green North, Manchester, M12 6FZ. The joint administrators can be reached at: Emma Mifsud Opus Restructuring LLP 4th Floor, One Park Row Leeds, LS1 5HN Charles Hamilton Opus Restructuring LLP 322, High Holborn London, WC1V 7PB Further details, contact: The Joint Administrators Tel: +44 20 4509 9127 Alternative contact: Farhan Ahmed HAWKMOOR LIMITED: Turpin Barker Named as Administrators ------------------------------------------------------- Hawkmoor Limited was placed into administration proceedings in the High Court of Justice, Court Number: CR-2024-007144, and Andrew R Bailey and Martin C Armstrong of Turpin Barker Armstrong, were appointed as administrators on Dec. 3, 2024. Hawkmoor Limited specializes in defense activities. Its registered office is at Sundial House, 98 High Street, Horsell, Woking, GU21 4SU. The administrators can be reached at: Andrew R Bailey Martin C Armstrong Turpin Barker Armstrong 5 Park Court, Pyrford Road West Byfleet, Surrey, KT14 6SD For further details contact: Chris Haggitt Tel No: 01932 336149 Email: chris.haggitt@turpinba.co.uk KERACO CONSTRUCTION: Leonard Curtis Named as Joint Administrators ----------------------------------------------------------------- Keraco Construction Ltd was placed into administration proceedings in the High Court of Justice Business and Property Courts in Manchester, Insolvency & Companies List (ChD), Court Number: CR-2024-001602, and Conrad Beighton and Andrew Knowles of Leonard Curtis, were appointed as joint administrators on Dec. 6, 2024. Keraco Construction specializes in the construction of domestic buildings. Its registered office and its principal trading address is at 26 Lovelace Avenue, Solihull B91 3JR. The joint administrators can be reached at: Andrew Knowles Conrad Beighton Leonard Curtis Riverside House, Irwell Street Manchester, M3 5EN Further Details Contact: The Joint Administrators Email: recovery@leonardcurtis.co.uk Tel No: 0161 831 9999 Alternative contact: Helen Hales MISTRAL RETAIL: Begbies Traynor Named as Joint Administrators ------------------------------------------------------------- Mistral Retail Limited was placed into administration proceedings in the High Court of Justice The Business and Property Courts of England & Wales, No CR-2024-007500, and Simon John Killick and Jeremy Karr of Begbies Traynor (Central) LLP, were appointed as joint administrators on Dec, 6, 2024. Mistral Retail specializes in the wholesale of clothing and footwear. Its registered office is at 31st Floor, 40 Bank Street, London, E14 5NR. The joint administrators can be reached at: Simon John Killick Jeremy Karr Begbies Traynor (Central) LLP 31st Floor, 40 Bank Street London, E14 5NR For further details contact Rochelle Karunaratne Tel No: 020 7262 1199 Email: rochelle.karunaratne@btguk.com PARAGON SCHEME: FRP Advisory Named as Joint Administrators ---------------------------------------------------------- Paragon Scheme Management Services Limited was placed into administration proceedings in the High Court of Justice, Court Number: CR-2024-006837, and Alexander Kinninmonth and James Prior of FRP Advisory Trading Limited, were appointed as joint administrators on Dec. 9, 2024. Its registered office is at Unit 5 Quaypoint, Northarbour Road, Portsmouth, PO6 3TD to be changed to Mountbatten House, Grosvenor Square, Southampton, SO15 2JU. Its principal trading address is at Unit 5 Quaypoint, Northarbour Road, Portsmouth, PO6 3TD. The joint administrators can be reached at: Alexander Kinninmonth James Prior FRP Advisory Trading Limited Mountbatten House, Grosvenor Square Southampton, SO15 2JU Further details contact: The Joint Administrators Tel No: +44 (0)2381 448 200 Alternative Contact: Susannah Pyne Email: cp.southampton@frpadvisory.com REDFIELDS LANDSCAPING: FRP Advisory Named as Administrators ----------------------------------------------------------- Redfields Landscaping & Design Limited was placed into administration proceedings in the High Court of Justice, Court Number: CR-2024-007461, and Ben Stanyon and Nedim Ailyan of FRP Advisory Trading Limited, were appointed as administrators on Dec. 9, 2024. Redfields Landscaping, trading as Redfields Landscaping & Design, offers Landscape & Home Improvements services. Its registered office is at The Granary, Hermitage Court, Maidstone, ME16 9NT (to be changed to FRP Advisory Trading Limited, Centre Block, 4th Floor, Central Court, Knoll Rise, Orpington BR6 0JA. The principal trading address is at The Plant Centre, Bowling Alley, Crondall, Surrey GU10 5RJ. The administrators can be reached at: Ben Stanyon Nedim Ailyan FRP Advisory Trading Limited 4th Floor, Centre Block Central Court, Knoll Rise Orpington, Kent, BR6 0JA Contact details for Administrators Tel No: 020 8302 4344 Alternative contact: Isaac Ntanda Email: cp.orpington@frpadvisory.com STYLEMANIA LTD: Kroll Advisory Named as Joint Administrators ------------------------------------------------------------ Stylemania Ltd was placed into administration proceedings in the High Court of Justice Business and Property Courts in Manchester, Insolvency & Companies List (ChD), Court Number: CR-2024-MAN-001596, and Mark Blackman and Benjamin John Wiles both of Kroll Advisory Ltd were appointed as joint administrators on Dec. 5, 2024. Stylemania Ltd specializes in business and domestic software development. Its registered office is at 85 Great Portland Street, London, England, W1W 7LT. The joint administrators can be reached at: Mark Blackman Benjamin John Wiles Kroll Advisory Ltd The Chancery, 58 Spring Gardens Manchester, M2 1EW For further details, contact: The Joint Administrators Tel No: 0161 827 9172 Email: Ellie.Clark@kroll.com =============== X X X X X X X X =============== [*] BOOK REVIEW: The First Junk Bond ------------------------------------ Author: Harlan D. Platt Publisher: Beard Books Softcover: 236 pages List Price: $34.95 http://www.beardbooks.com/beardbooks/the_first_junk_bond.html Only one in ten failed businesses is equal to the task of reorganizing itself and satisfying its prior debts in some fashion. This engrossing book follows the extraordinary journey of Texas International, Inc. (known by its New York Stock Exchange stock symbol, TEI), through its corporate growth and decline, debt exchange offers, and corporate renaissance as Phoenix Resource Companies, Inc. As Harlan Platt puts it, TEI "flourished for a brief luminous moment but then crashed to earth and was consumed." TEI's story features attention-grabbing characters, petroleum exploration innovations, financial innovations, and lots of risk taking. The First Junk Bond was originally published in 1994 and received solidly favorable reviews. The then-managing director of High Yield Securities Research and Economics for Merrill Lynch said that the book "is a richly detailed case study. Platt integrates corporate history, industry fundamentals, financial analysis and bankruptcy law on a scale that has rarely, if ever, been attempted." A retired U.S. Bankruptcy Court judge noted, "[i]t should appeal as supplementary reading to students in both business schools and law schools. Even those who practice.in the areas of business law, accounting and investments can obtain a greater understanding and perspective of their professional expertise." "TEI's saga is noteworthy because of the company's resilience and ingenuity in coping with the changing environment of the 1980s, its execution of innovative corporate strategies that were widely imitated and its extraordinary trading history," says the author. TEI issued the first junk bond. In 1986 it achieved the largest percentage gain on the NYSE, and in 1987 suffered the largest percentage loss. It issued one of the first bonds secured by a physical commodity and then later issued one of the first PIK (payment in kind) bonds. It was one of the first vulture investors, to be targeted by vulture investors later on. Its president was involved in an insider trading scandal. It innovated strip financing. It engaged in several workouts to sell off operations and raise cash to reduce debt. It completed three exchange offers that converted debt in to equity. In 1977, TEI, primarily an oil production outfit, had had a reprieve from bankruptcy through Michael Milken's first ever junk bond. The fresh capital had allowed TEI to acquire a controlling interest of Phoenix Resources Company, a part of King Resources Company. TEI purchased creditors' claims against King that were subsequently converted into stock under the terms of King's reorganization plan. Only two years later, cash deficiencies forced Phoenix to sell off its non-energy businesses. Vulture investors tried to buy up outstanding TEI stock. TEI sold off its own non-energy businesses, and focused on oil and gas exploration. An enormous oil discovery in Egypt made the future look grand. The value of TEI stock soared. Somehow, however, less than two years later, TEI was in bankruptcy. What a ride! All told, the book has 63 tables and 32 figures on all aspects of TEI's rise, fall, and renaissance. Businesspeople will find especially absorbing the details of how the company's bankruptcy filing affected various stakeholders, the bankruptcy negotiation process, and the alternative post-bankruptcy financial structures that were considered. Those interested in the oil and gas industry will find the book a primer on the subject, with an appendix devoted to exploration and drilling, and another on oil and gas accounting. Dr. Harlan D. Platt is a professor of Finance at D'Amore-McKim School of Business at Northeastern University. He is a member of the Board of Directors of Millennium Chemicals Inc. and is on the advisory board of the Millennium Liquidating Trust. He served as the Associate Editor-Finance for the Journal of Business Research. He received a Ph.D. from the University of Michigan, and holds a B.A. degree from Northwestern University. This book may be ordered by calling 888-563-4573 or by visiting www.beardbooks.com or through your favorite Internet or local bookseller. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter-Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman, Editors. Copyright 2025. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$775 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Peter Chapman at 215-945-7000. * * * End of Transmission * * *