Keydata Investment Services Limited (in administration) - Creditors’ meeting and reports
This section provides information for creditors of Keydata. Although the information is relevant to investors, further information for investors can be found in the dedicated investor section.
The attachments below are the initial creditors’ pack, including the Joint Administrators’ proposals, and four six monthly progress reports to creditors.
- Fifth six monthly progress report to creditors - 20 December 2011
- Fourth six monthly progress report to creditors - 5 July 2011
- Third six monthly progress report to creditors - 5 January 2011
- Second six monthly progress report to creditors - 6 July 2010
- First six monthly progress report to creditors - 7 January 2010
- Creditors' pack - 29 July 2009
Extension of the Administration
The Court granted an order on 20 May 2011 to extend the term of the Administrators’ office until 7 June 2012. The order was granted following the submission of an extension application by the Administrators on 27 April 2011.
The purpose of the extension of the Administration is to facilitate ongoing discussions in respect of the restructuring of Lifemark, to preserve potential litigation avenues available to the Company and to enable further consideration on the optimum exit strategy.
Under the provisions of the Insolvency Act 1986 the duration of an Administration Order is 12 months from the date of appointment unless it is extended either by creditors or by the Court. The Court may grant a further extension to the term of the Administration at its discretion. The Administration order can be brought to an end prior to 7 June 2012 if the Administrators believe this would be in the best interests of creditors.
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