Insolvency Notices

Company

RES HOMES LIMITED

Notice Type
Qualifying Decision Procedure
Publication date
21/01/2021
Edition
The London Gazette
Notice ID
3718524
Notice Code
2409

In the High Court of Justice

No 4213 of 2020

RES HOMES LIMITED

Company Number: (10781847)

Registered office: C/O James Cowper Kreston, The White Building, 1-4 Cumberland Place, Southampton, SO15 2NP

Principal trading address: Unit 9, Highnam Business Centre, Newent Road, Gloucester, GL2 8DN

NOTICE IS HEREBY GIVEN that the decision by correspondence procedure is to be used to seek a decision from the creditors of the company on the following resolutions:

1. A decision of the creditors on whether to form a creditors’ committee

2. That the joint administrators’ proposals be approved without modification

3. That the basis of the joint administrators’ remuneration be approved as follows:

d. a set amount of ÂŁ80,000 plus VAT for the following work

- Compliance

- Asset realisation

- Initial investigation

e. For debt collection (including book debts, directors’ loan accounts (including any balances due on property transactions), and other debts due to the company) we propose the following remuneration structure

i. A fee of 5% (equating to ÂŁ15,000) of first ÂŁ300,000 of recoveries,

and

ii. A fee of 15% for recoveries of amounts above ÂŁ300,000, giving an estimated fee of between nil and ÂŁ120,000.

f. 2% of sums distributed to creditors, giving an estimated fee of between ÂŁ14,000 and ÂŁ31,000.

4. That the joint administrators be authorised to draw category 2 disbursements as incurred

In order to be entitled to vote creditors must deliver their claims and votes to James Cowper Kreston, The White Building, 1-4 Cumberland Place, Southampton, SO15 2NP (votes must be delivered) by no later than 23.59 hours on 4 February 2021

The Convener of the decision procedure is: Sandra Mundy, Joint Administrator

Office Holder Details: Sandra Lillian Mundy and Thomas Charles Russell (IP numbers 9441 and 15994) of James Cowper Kreston, The White Building, 1-4 Cumberland Place, Southampton SO15 2NP. Date of Appointment: 19 November 2020. Further information about this case is available from Shannen Kavanagh at the offices of James Cowper Kreston on 02380 221222 or at astott@jamescowper.co.uk.

Sandra Lillian Mundy and Thomas Charles Russell, Joint Administrators