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TODAY'S OTHER NEWS

Cream Club/Cabec Ltd enters administration

Estate agency marketing organisation Cream Club - formally known as Cabec Limited - has been put into administration.

It was almost two weeks ago, on May 6, that a winding-up petition was advertised in the London Gazette, stating:

Petitions to Wind Up (Companies)

In the High Court of Justice (Chancery Division)

Companies CourtNo 2334 of 2015

In the Matter of CABEC LIMITED

(Company Number 07459665)

and in the Matter of the Insolvency Act 1986

A Petition to wind up the above-named Company of c/o Cream Group, Unit S3, Compass Point Business Park, St Ives PE27 5JL, presented on 27 March 2015 by ALAN PASKE, of 18 Bury Road, Stapleford, Cambridgeshire CB22 5BP, claiming to be a Creditor of the Company, will be heard at the Royal Courts of Justice, Chancery Division, Companies Court, The Rolls Building, 7 Rolls Buildings, Fetter Lane, London EC4A 1NL, on 18 May 2015, at 1030 hours (or as soon thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give notice of intention to do so to the Petitioner or its Solicitor in accordance with Rule 4.16 by 1600 hours on 15 May 2015.

The Petitioner’s Solicitors are Hill & Abbott, Threadneedle House, 9-10 Market Road, Chelmsford, Essex CM1 1XH, tel 01245 258892, fax 08443 353778, email mark.taylor@hill-abbott.co.uk. (Reference: MBT/DGF/58925).

Then this notice was posted in the London Gazette on May 15: 

CABEC LTD

(Company Number 07459665)

Trading Name: The Cream Club

Registered office: c/o Cream Group, Unit S3, Compass Point Business Park, St Ives, PE27 5JL

Nature of Business: Advertising and Market Research

Date of Appointment: 5 May 2015

Jamie Taylor (IP Number: 002748) and Lloyd Biscoe (IP Number: 009141), both of Begbies Traynor (Central) LLP of The Old Exchange, 234 Southchurch Road, Southend on Sea, SS1 2EG

Any person who requires further information may contact the Joint Administrator by telephone on 01702 467255. Alternatively enquiries can be made to James Hopkirk by e-mail at james.hopkirk@begbies-traynor.com or by telephone on 01702 467255.

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    A lot of agencies who have been stuck in contracts are now able to get out. This clause:

    "Each party may terminate this agreement with immediate effect by giving written notice to the other party if: …

    The other party suspends or threatens to suspend payment of its debts or is unable to pay its debts as they fall due or admits inability to pay its debts or (being a company) is deemed to be unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986 …"

    The absolute crook known as Craig Cook is already trying to move clients over to his phoenix company, Cream Club Limited, his 14th so far.

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    If Cream crashes, will all its server-based activities - and therefore all its agents' TV sites and paid-for videttes, crash out of existence too??
    Just a thought.....

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