Legion Group plc – The UK’s longest established provider of security services is sold
Legion Group plc and Legion FM Limited (Both In Administration) (together "the Companies")
Introduction and Overview
Paul Williams, Paul Clark and John Whitfield of MCR were appointed as Joint Administrators ("Administrators") of the Companies on 6 August 2010. All Administrators are licensed by the Insolvency Practitioners' Association.
The affairs, business and property of the Companies are being managed by the Administrators, who act as agents of the Companies and without personal liability. The role of the Administrator is to deal with the business and assets of the insolvent estates, not to replace the Directors of the Companies. The Administrators are not accountable for the management of the business prior to their appointment.
The Administrators completed a sale of the Company's business and assets to OCS Group UK Limited ("OCS") on 6 August 2010. Where Insolvency Practitioners are party to a pre-packaged sale, best practice guidelines require them to disclose to creditors, where practicable, certain information in respect of that pre-packaged sale in the first notification to creditors.
Suppliers
A letter to the Companies creditors was issued on 16 August 2010. This letter enclosed a proof of debt form for creditors to complete and return to this office in order to register their unsecured claim.
A letter to the Companies creditors was issued on 16 August 2010. This letter enclosed a proof of debt form for creditors to complete and return to this office in order to register their unsecured claim.I advise that the quantum and timing of a return to non-preferential unsecured creditors is currently uncertain.
Retention of Title ("ROT")
Any creditor who believes they are entitled to make a ROT claim should complete the ROT questionnaire and return the completed questionnaire to this office.
Suppliers are not permitted to enter the Companies' premises or any sites without first having the permission of the Administrators or OCS.
Employees
All employees and employee entitlements have been transferred to OCS pursuant to the Sale and Purchase Agreement, dated 6 August 2010, and the Transfer of Undertakings (Protection of Employment) Regulations 2006.
Shareholders
I confirm that there are insufficient realisable assets to enable a dividend to be made to non-preferential unsecured creditors in full, and accordingly there will be no dividend to shareholders.
The following documents are available for your information: (Please click below)
Letter to all known ShareholdersLegion Group plc - Letter to all known creditors enclosing the Joint Administrators Final Report
Legion FM Limited - Letter to all known creditors enclosing the Joint Administrators Final Report
By the Administrators
