Island Echo understands the Island Harbour Marina on the outskirts of Newport may be in trouble, with suggestions that administrators are to be appointed.
It was yesterday afternoon that the first whispers were heard that there was trouble brewing on the River Medina, but searches of official documents on the London Gazette and Companies House has not revealed any further detail.
Now, it is said that around 25 boat owners are trapped inside the lock at Binfield as the staff have allegedly been let go and the keys handed over. It’s unknown when, or if, they will be let out.
Island Echo is told that a meeting is to be held on Tuesday to clarify the situation.
UPDATE @ 15:47 – It has been confirmed that Uavend Investments LLP – headed up by Eamon Mark O’Connor and Kevin George Webb – has entered administration.
It is said to be due to ‘unforeseen circumstances’.
Lucas Ross has been appointed to deal with matters relating to the business and can be contacted on [email protected] or by calling 0161 509 5095.
One Island Echo reader – whose boat was moored in Island Harbour’s Marina – said:
“At no time was I told there was a problem. It was only during the evening that we were told the marina had been placed in receivership but were told at the time there would be no problems for those wanting to leave the next day.”
“As the time passed, it became increasingly clear that the lock gates would not be opened. We therefore decided to make the boat safe and return home by public transport.”
UPDATE FRIDAY – A notice in the London Gazette has confirmed the appointment of administrators, namely Stephen Lancaster of Lucas Ross Limited, Manchester.
It’s stated that the appointment was made on 13th September.
A total of 5 unsatified charges are against the company, 4 relating to Broadleaf Assist Ltd and 1 to Ldf Finance No.3 Limited.
Eamon Mark O’Connor, director of 39 companies….Many of which have Uavend as part of the company name…
One of which I think, is the Norris Castle development.
Correct, and it’s obvious they will never convert the Castle into a hotel. Just look at their recent planning application and you will see they have asked permission to build lots of houses in the grounds. This was always the intention and when approved they will sell of the Castle for a token amount.
Hi I am a actually Tina who works there
I didn’t leave the previous comment
Someone has decided to leave this comment in my name without my permission or my knowledge
However I can confirm the company has gone into receivership forever hopeful normal services will be resumed shortly as I believe the receivers are hoping to get things up and running asap
The marina has gone into Administration NOT receivership as confirmed by the notice. They are completely different.
That’s splitting hairs…
“Administration is a favourable alternative to liquidation. A licensed insolvency practitioner is appointed as Administrator for a company facing threats from creditors. The Administrator takes control of the business operations, to act in the best interest of creditors. In entering Administration, a moratorium is also placed around the company to freeze all legal actions.
An Administrator can be appointed by the company directors, the secured creditor or even the company itself. Where receivership will often be terminal for the business, administration is widely viewed as the preferred rescue procedure. Administration typically delivers higher returns to creditors from company assets, and saves jobs where possible.” Says businessrescueexpert.co.uk
Bird bird bird the is word
Net Company value approx £3m, liabilities approx £10m.
Too many fingers in too many pies, thinking to become filthy rich at others expense. And they call themselves human beings.
BroadLeaf Assist Ltd is a company that also has links to O’Conner. You have to dig deep but the information is there. One of his creditors is essentially himself. Anyone smell anything?
I spoke with the staff today. They were very helpful but could not offer any accurate updates. They said there is a meeting Tuesday so may have more info after that. At the moment the operating of the lock gates is available but limited. I feel sorry for the staff that has little idea about their future. Is good that they are still so helpful to the customers. Thanks guys