Parkwood Holdings: Realm Services Placed Into Administration
August 17 2009 - 7:37AM
Dow Jones News
Parkwood Holdings PLC (PKW.LN) said Monday a subsidiary special
purpose company Realm Services Ltd has been placed into
administration following discussions with Barclays Bank PLC
(BCS).
MAIN FACTS:
-Joint Administrators, Shay Bannon and Tony Nygale, of BDO Stoy
Hayward will seek satisfactory terms with Ministry of Defence
relating to outstanding dispute at Defence Animal Centre in
Leicestershire.
-Dispute relates to provision of kennelling for dogs trained at
centre.
-Placing Realm into administration invokes 150 day suspension
period, which should allow time to reach resolution to outstanding
contractual issues.
-Barclays Bank provides senior debt amounting to GBP6.5 million
to Realm, which signed a PFI contract with MoD in August 2000.
-Total carrying value of Realm in goup's consolidated balance
sheet is GBP2.6 million.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com