Henry Construction Projects Limited - Case Update

The Joint Administrators of a London high-rise builder are working to recover plant and equipment removed from project sites in the days leading up to their appointment.

Geoffrey Rowley and David Hudson of FRP were appointed Joint Administrators of Henry Construction Projects Limited on 8 June 2023, after mounting losses on the company’s 60 live sites resulted in the rapid deterioration of the company’s financial position and the issuance of a winding-up petition by Ozel Group Limited, owed £283k.

On appointment, the Joint Administrators discovered that the company’s plant and machinery was deficient, and a significant amount of the plant was not at the expected locations. Several landowners advised the Joint Administrators that plant and machinery was removed from the project sites in the days leading up to the appointment.

The Joint Administrators are now making efforts to recover the missing plant and equipment, and positive headway is being made. Included in the missing items are significant volumes of formwork and scaffolding, some of which are third-party financed and/or owned. The Joint Administrators have engaged an independent specialist formwork and scaffolding agent to undertake an audit and are awaiting the findings.

The Joint Administrators’ proposals can be found HERE. They have been assisted by Mishcon de Reya, Hilco and Gateley Vinden.