Will Wright and Richard Philpott were appointed Joint Administrators of IAS Realisations Limited Formerly Impetus Automotive Solutions Limited – in Administration (the ‘Company’) on 26 March 2015.
The administration has come to an end. For further information, including the exit route from the administration, please refer to the final progress report.
Will Wright and Richard Philpott were appointed Joint Administrators of IAS Reaslisations Limited (formerly Impetus Automotive Solutions Limited), PH Impetus Holdings Limited and PH Impetus Group Limited (‘PHIG’) (together the ‘Holding Companies’) on 26 March 2015, at the request of the companies’ directors.
Shortly following appointment, the Joint Administrators successfully concluded the pre-packaged sale of the Holding Companies’ intellectual property rights and PHIG’s shares in Impetus Automotive Limited (the ‘Trading Company’) to Volvere Asset Management Limited, a subsidiary of Volvere plc, an independent third party. The Trading Company is unaffected by the administrations of the Holding Companies.
The administrators concluded all matters by 22 March 2016 and have filed their final report with Companies House. No monies were available to unsecured creditors.
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