Callprint admin enters fourth year
Monday, September 6, 2021
The administration of Callprint has entered its fourth year as administrators work to resolve still-outstanding claims around transactions that took place prior to its administration.
It is the third time the administration has been extended. Administrator Benjamin Wiles of Kroll (formerly Duff & Phelps) applied to extend it until 31 August 2022.
After Call Print Group Ltd and Call Print Services Ltd went into administration in August 2018, administrators subsequently found “material misstatements” in the group’s previously filed accounts.
The administrators also deployed forensic accountants as part of an investigation into transactions that took place beforehand. This included the sale of Callprint’s Dubai-based business, Call Print Express, to the group’s then-managing director Steve Cheek less than a month before Callprint filed an intention to appoint administrators.
The joint administrators subsequently determined that the beneficiaries of the transactions identified should be pursued for the benefit of the companies.
In the most recent progress report, for the period from 31 August 2020 to 28 February 2021, the administrators stated that the respondents to the letters before action previously issued had instructed solicitors, “which has led to a substantive response being received”, with the administrators “hopeful of making progress in relation to the claims shortly”.
The detail of the claims made remains under wraps due to the legal process.
One creditor commented: “For once liquidators and administrators are doing what creditors expect them to do. They are not letting it go.”
Kroll’s work since the last report has included dealing with the recovery of intra-group debt and “continuing to pursue actions against third parties identified as part of the joint administrators’ investigations”.
Callprint companies owed trade creditors more than £1.2m at the time of the administration, and the complex web of related firms had intra-group loans of £10.6m.
The administrators will make a further progress report within the next month that is expected to include a more detailed update on the investigations.
Printweek has been unable to contact Steve Cheek for comment.