HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED Company Number: 04205220

JOINT ADMINISTRATORS REPORT TO MEMBERS AND CREDITORS PURSUANT TO PARAGRAPH 49 OF SCHEDULE B1 OF THE INSOLVENCY ACT 1986

This document may not be copied, reproduced, republished, downloaded, posted, broadcast or transmitted in any way except for your own personal use. Prior consent must be obtained for any other use of this material. Harlequin Management Services (South East) Limited - In Administration Joint Administrators Formal Proposals

Formal Proposals - the Adm i nistrators propose that they:

(a) Continue to manage the affairs of the Company and do all such things in order to achieve Objective 1 of the statutory purposes of the Administration;

(b) If appropriate the Joint Administrators will take all steps necessary to settle outstanding Adm inistration costs and issue proposals with regards to a Company Voluntary Arrangement;

(c) Should the Joint Administrators determine that a Company Voluntary Arrangement is not a viable prospect, then the Joint Administrators should take all steps necessary to settle outstanding Administration costs and place the Company into Liquidation;

(d) If funds become available to allow a distribution to unsecured creditors, the Company will move to Creditors' Voluntary Liquidation in accordance with Paragraph 83 of Schedule 61 of the Insolvency Act 1986;

(e) Should the Company enter Creditors Voluntary Liquidation then Anthony Davidson and Stephen Ryman of Shipleys LLP, 10 Orange Street, Haymarket, London WC2H 7DQ, be appointed Joint Liquidators of the Company for the purposes of such winding-up. Any act required to be taken by the Joint Liquidators can be undertaken by either one of them acting independently;

(f) Should there be insufficient assets to enable a distribution to unsecured creditors, to allow for further investigations to be conducted into the Company's affairs then the Joint Administrators will take all steps necessary to Petition for the Compulsory Liquidation of the Company;

(g) Upon the appointment of Anthony Davidson and Stephen Ryman as Joint Administrators of the Company ceasing to have effect, they will be discharged from all liability in respect of any actions as Joint Administrators;

(h) The basis of the Joint Administrators' Post Appointment remuneration be considered and, if appropriate, agreed by either any Creditors' committee appointed or by the Creditors at the Meeting, which is to be held on Friday 12th July 2013 or any subsequent Meeting convened for that purpose and in the event that a Creditors committee is not appointed, agreed by reference to the time spent by them and their staff in the conduct of the Administration in accordance with the Shipleys LLP "Creditors Guide to Fees"; and

(i) The Joint Administrators be authorised to draw all Post Appointment, as well as future disbursements (including those as categorised in the revised Statement of Insolvency Practice 9, Category 2), in accordance with the rates of charge as detailed in the Shipleys LLP "Creditors Guide to Fees". Harlequin Management Services (South East) Limited - In Administration

Statement to Creditors pursuant to Paragraph 49 of Schedule 61 of the Insolvency Rules 1986 HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

26th JUNE 2013

TABLE OF CONTENTS Section Page

1 . INTRODUCTION 1-2 .

2 . EVENTS LEADING UP TO THE MAKING OF THE APPOINTMENT OF ADMINISTRATORS 2-5.

3. STATEMENT OF AFFAIRS 5.

4. ACHIEVING THE PURPOSE OF THE ADMINISTRATION 5.

5. MANAGEMENT OF THE COMPANY'S AFFAIRS SINCE THE JOINT ADMINISTRATORS ' INVOLVEMENT 6 -8.

6. CREDITORS ' CLAIMS 8-9 .

7 . PRESCRIBED PART 9 .

8. INVESTIGATIONS 9 .

9. EC REGULATIONS ON INSOLVENCY PROCEEDINGS 9.

10. POSSIBLE OUTCOMES FOR THE COMPANY AND 9-10. CREDITORS

11 . JOINT ADMINISTRATORS ' PRE AND POST APPOINTMENT REMUNERATION 10-11 .

12. JOINT ADMINISTRATORS ' POST APPOINTMENT DISBURSEMENTS 12.

13. FURTHER EXPECTED COSTS TO THE ADMINISTRATION ESTATE 12-13.

14. STATEMENT OF PROPOSALS UNDER PARAGRAPH 49 OF SCHEDULE 61 OF THE INSOLVENCY ACT 1986 13-14.

15. CREDITORS' VOTING RIGHTS 14.

Appendi ces

STATUTORY INFORMATION APPENDIX 1 STATEMENT OF AFFAIRS POST APPOINTMENT APPENDIX 2 JOINT ADMINISTRATORS ' RECEIPT AND PAYMENTS APPENDIX 3 JOINT ADMINISTRATORS ' PRE APPOINTMENT TIME COST SUMMARY APPENDIX 4 JOINT ADMINISTRATORS ' POST APPOINTMENT TIME COST SUMMARY APPENDIX 5 CREDITORS GUIDE TO FEES APPEND IX 6 FORM 2 . 20B - NOTICE OF A CREDITORS MEETING APPENDIX 7 PROOF OF DEBT FORM APPENDIX 8 PROXY APPENDIX 9 HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Registered No: 04205220 Registered office situated at Shipleys LLP, 10 Orange Street, London WC2H 7DQ In the High Court: 2989 of 2013

1 . INTRODUCTION

1.1 This report is addressed to the creditors of Harlequin Management Services (South East) Limited ("the Company") and incorporates my proposals as Joint Administrator. As detailed in my letter dated 8th May 2013, I was appointed Joint Administrator of the Company on 3rd May 2013, together with my partner, Mr Stephen Ryman, by the Directors of the Company pursuant to Paragraph 22 of Schedule BI of the Insolvency Act 1986.

1 . 2 Pursuant to Paragraph 51 of Schedule B1 of the Insolvency Act 1986 , I shall be calling a Meeting of Creditors . Further details regard i ng th is can be found at Section 15 of th is report .

1 . 3 Creditors may approve the proposals with or without mod ifi cati ons subject to my agreement to any such modifi cations . If the cred itors reject my proposals a report wi ll be sent to the High Court advising that the creditors have rejected the proposals . The Court may then discharge the Adm i nistration and make consequential d i rections . Alternatively , it may adjourn the heari ng or make some other Order as it thinks fit .

1.4 If my proposals are agreed by creditors, I will continue to control the assets of the Company to the extent that they have not been transferred. I would at some later date arrange for the Company to exit from the Administration, as agreed by the creditors. Based on the information presently available and the current situation it is possible, as detailed in Section 10 of this report, that the Company may move from Administration to Company Voluntary Arrangement.

1 . 5 In accordance with Rule 2 . 106 (5) of the Insolvency Rules 1986 and Paragraph 98 (2) of Schedu le B1 of the Insolvency Act 1986 , shou ld a cred itors' committee not be formed , I shall seek approval of my remunerati on and discharge from liab i lity as Jo i nt Admin istrator from the unsecured creditors of the Company . In the event that I do not receive the requis ite majority approving the resoluti on , then I wi ll need to apply to the Court pursuant to Rule 2 . 108 of the Insolvency Rules 1986 to have my remuneration approved .

1 . 6 For the purposes of Schedule B1 Paragraph 100(2 ) of the Insolvency Act 1986 , both Mr Stephen Ryman and myself act jo i ntly and concurrently i n respect of all actions undertaken as Jo i nt Adm i nistrators .

1 . 7 Albeit that statutory i nformation is contai ned i n Appendix 1 , th is report provides details in relation to the Company's h istory and statutory i nformati on . Th is is based on i nformation held at Companies House and limited information provided by the former Di rectors .

1 . 8 The Di rectorships of the Company held since its incorporation are shown below:

Name : Date of Appointment: Date of Res ig natio n: Carol Ann Ames 25/04/2001 - Daniel John Ames 30/06/2006 - 1 . 9 The Company has authorised share capital of 1 , 000 ordinary shares of £1 , which have been issued and fully paid . The Company's shareholders are as follows :

Shareholder Type of Share Number of Shares Held: Daniel John Ames Ordina ry 100 Carol Ann Ames Ordina ry 600 David Ames Ordina ry 100 Nicola Jane Kelliher Ordinary 100 Martin Ames Ordina ry 100

2. EVENTS LEADING UP TO THE MAKING OF THE APPOINTMENT OF ADMIN ISTRATORS

2 . 1 The Company was originally incorporated on 25th April 2001 with London Law Services Limited as Nominee Di rector and London Law Secretari al Limited as Nominee secretary .

2 . 2 On 25th April 2001 , London Law Services Li mited and London Law Secretarial Li mited resigned from their respect ive positions and Mrs Carol Ames ('the Director ' ) was appointed D i rector. Mr Daniel Ames was appointed Company Secretary .

2 . 3 The Company was i nitial ly formed i n order to operate as a consultancy and management busi ness by way of providing sales and marketi ng servi ces to a number of i ndependent Compan ies .

2. 4 The Company was financially formed by way of nom i nal personal funds provided by the Director.

2 . 5 From the outset of trad i ng , the Company proceeded to operate from the Director' s home address . The Company relocated to leasehold prem i ses at Un it 29 , Saffron Court, Southfields Industri al Estate , La i ndon , Essex SS15 6SS during 2004 .

2 . 6 The Company uti l i sed the banki ng servi ces of Barclays Bank plc during the course of trading . The D i rector advises that the Company did not uti l i se any overdraft faci l ities or obtain any bank loans .

2 . 7 During 2004 , the Company proceeded to divers ify its business by way of becoming an introducer of finance, to i ndividuals who requ i red financial assistance , and the Company traded under the name "Loans Made Easy". The Company's role was to introduce potenti al clients to vari ous fi nance Companies and on the finance request bei ng successful , the Company would receive a commiss i on from the finance Company . The D i rector advised that the Company had diversified its business due to fresh bus i ness opportun ities that had arisen . The Director states the Company ceased operating as a provider of consultancy and management services at that ti me .

2 . 8 During 2005 , the Company received a request from one parti cular client to ascerta i n whether fi nance could be raised on an overseas building project that the client had been developing . The Company duly passed the cl ient's details onto the requisite finance Company and the fi nancing proved successful .

2 . 9 After assi sti ng the client with obtaining financing for the overseas project , the D i rector was once again approached by the client who enquired whether the Company would be interested in becoming a United Kingdom (' UK') agent in order to assist with the sale of the overseas project , whereby , the Company would operate on a comm i ssion basis following any sales that were generated . After reviewi ng this matter, the Company duly entered into an agreement with the client during 2005 in order to act as its UK agent .

2 2.10 Towards the end of 2005/early 2006, the Director received an offer from a contact asking whether the Company was interested in purchasing some land in Barbados for the sum of $10million. Following various discussions, the land was eventually purchased by Mr David Ames, the Director's husband. After obtaining advice, Mr David Ames duly formed a company based and registered in the Caribbean, Harlequin Property (SVG) Limited, and the Company became its sole UK agent. The Company's role was to seek investors who would be interested in investing in this new property development, which was to be undertaken in the Caribbean.

2. 11 Upon becoming the sole UK agent for Harlequ i n Property (SVG) Li mited , the Company stopped representi ng the property developer as the D i rector felt it was more benefi ci al to represent a Harlequin Company in the UK rather than acting on behalf of another third party .

2. 12 The pensi on rules in the UK were changed during April 2006 , whereby UK approved pensi on plans were able to i nvest i n residenti al properties . The new rules were attractive to many UK i nd ividuals as it offered them both tax advantages and resources to fi nance the purchase of an overseas property .

2 . 13 Following the initial purchase of land in Barbados , further land was obtained by other Harlequin Cari bbean Companies , which were operated by Mr Davi d Ames , and the Company subsequently became the sole UK agent for these new property ventures .

2 . 14 During the course of trading , the Company became the UK agent for developments in Barbados , St.Vi ncent, St . Lucia , the Dominican Republic and Brazil . With each development, the Company would enter into an agency agreement with the relevant overseas Limited Company . Once investment had been obtained the Company effectively acted as the intermediary between the UK investor and the overseas bus i ness . The Company would undertake the marketing and sales of the various overseas i nvestments to the private purchasers within the UK and the Company would then receive a comm ission on each i nvestment that had been obtai ned .

2 . 15 On 30th June 2006 , Mr Daniel Ames was appointed Company Di rector. Mrs Carol Ames also rema i ned in office as a Di rector.

2 . 16 During June 2006 , the Company utilised the services of an external firm of chartered accountants . As part of these services, a partner at the firm acted as the Company's in- house accountant . This partner also proceeded to act as an accountant for the various Cari bbean Companies , which were owned by Mr David Ames . The Company also util ised the services of a further senior manager from the fi rm who speci alised i n providing tax advice to i nvestors and Company agents .

2 . 17 In addition to the Company's sales team , the Company started uti l i si ng the servi ces of Independent Financial Advisors (' IFA') from 2006 onwards . The IFA' s assisted the Company i n generating further i nvestor i nterest with regards to the overseas developments that were being undertaken by the Harlequ i n Compan i es .

2 . 18 Due to the i ncrease i n business , the Directors required additional space. Therefore , during September 2007 , the Company relocated to leasehold premises situated at Honywood Business Park, Honywood Road , Basildon , Essex SS14 3HW.

2 . 19 During September 2009 , the D i rectors became aware that the senior manager from the accountancy firm referred to above had also been working on behalf of one of the building Companies that the Cari bbean Companies had been uti lising . The Directors believed that th is business relati onship constituted a conflict of i nterest and advised that they had not previously been made aware of th is profess i onal relationshi p. 2 . 20 The partner at the accounting fi rm gave assurances to the Directors that there was not a confl ict of interest as he had only been advising the Directors on what funds were to be transferred to the Caribbean entities and that the senior manager tax specialist would ensure that the funds were bei ng utilised correctly .

2.21 However, the Directors advise that it became apparent to them that the information that they had been provided with had been incorrect and that the building Company in the Caribbean had been misappropriating the Company funds, which had been transferred overseas. The Directors had discovered that the level of the misappropriated funds had increased after the building Company had acquired the services of the same senior manager tax specialist. After uncovering this matter, the Directors issued proceedings against the accounting firm for professional negligence and these proceedings are ongoing.

2 . 22 Due to the proceedings brought , the Company had no other option than to instruct a new firm of accountants , and BDO LLP were appointed .

2 . 23 The Company was contacted by a small group of investors who were requesti ng cancellations to their contracts as their properties had not been completed or had not been provided to them on ti me i n accordance with their contracts . The Directors agreed refunds with those investors and a compromise agreement was entered i nto i n order to settle an acti on that had been i ssued in the Engl ish Courts for payment of the refunds .

2 . 24 The Company was named as a defendant i n the acti on that had been brought . The Directors stated that the Company would have filed a defence in its own right if a compromise hadn't been reached with the claimants . The Company therefore had to appear on the comprom ise agreement which ended th is action . However, the refunds were not paid due to short-term issues with the overseas defendant , Buccament Bay Resort Li mited , who contracted orig i nally with the investors .

2.24 At the beginning of April 2013, the Company received a Statutory Demand, from one of the investors, who was trying to recover their investment. The Statutory Demand had been issued due to the non-payment of their refund.

2.25 As a result of this event, the Directors decided to seek independent advice and proceeded to contact Shipleys LLP.

2.26 On 17th April 2013, Licensed Insolvency Practitioners advised the Directors on the options available to the Company. It was ascertained that the main value of the business was deemed to be the Chattel Assets and connected parties debts.

2.27 Following a review of the Company's financial position, discussions were undertaken with the Directors regarding the possibility of issuing proposals for a Company Voluntary Arrangement ('CVA'). It became clear that the Company would have been unable to produce the relevant proposal documentation and convene the requisite Members' and Creditors' Meetings in time due to the Statutory Demand that had been served.

2.28 Any immediate Liquidation, either by way of Creditors' Voluntary Liquidation or Compulsory Liquidation, would have diminished the value of any Company assets and would have affected the potential realisation of the connected parties debts.

2.29 Trading the business was not a viable option as the Company had ceased trading and the Company's work force had been made redundant.

2.30 Therefore, in the Licensed Insolvency Practitioners' opinion, an Administration Order would be the best course of action as the appointed Administrator would be able to maximise asset recoveries for the benefit of the Company's creditors, and if appropriate, issue proposals for a Company Voluntary Arrangement. 4 2 . 31 As a result of the advi ce provided to the Directors, Mr Stephen Blandford Ryman and Mr Anthony Peter Davidson of Shipleys LLP were appointed Joint Administrators of the Company on 3rd May 2013 by way of a Director' s appointment pursuant to Paragraph 22 of Schedule 61 of the Insolvency Act 1986.

3 . STATEMENT OF AFFAIRS

3. 1 Attached to this report at Appendix 2 is a copy of the signed Estimated Statement of Affairs of the Company as prepared and signed by the Directors . The Statement of Affairs is to be filed i n the H igh Court of Justice , Chancery Division , London .

3.2 I have reviewed the figures contained in the Estimated Statement of Affairs received from the Directors, but have not carried out any audit or detailed verification work at this time. It is possible that there may be some errors and omissions within the Company's records and this statement should therefore be treated with caution.

4. ACHIEVING THE PURPOSE OF THE ADMINISTRATION

4 . 1 The statutory purpose of an Administration consists of three objectives, and I now address the progress that has been made in this respect.

4 . 2 The fi rst objective i s the rescuing of the Company as a goi ng concern . This means rescu i ng the Company with all or most of its business intact.

â There remains a possibility that this objective can be met, if the Joint Administrators consider it appropriate to issue proposals for a Company Voluntary Arrangement ('CVA'). A CVA proposal is likely to be based upon the collection and distribution of the connected parties debts. The Joint Administrators are currently making enquiries into the prospect of these debts being repaid.

4 . 3 The second objective (to be considered if the first objective is not reasonably practi cal or would clearly be better for the creditors as a whole) is to achieve a better result for the creditors than would be obta i ned through an i mmediate wind i ng up of the Company .

â As detailed in Section 5 of this report, the Company's assets were valued by an independent professional valuation firm, Agentcite Limited ('AL'). AL advised that the assets would generate a better result if they were sold on a market value basis in the Administration rather than on a break up scenario if the Company had entered into Liquidation.

4 .4 The fi nal purpose is real isi ng assets i n order to make a d istribution to one or more Secured or Preferent i al cred itors.

â The Company had not granted a debenture to any third party, therefore, no Secured creditor distributions would be undertaken in these proceedings, however, the Joint Administrators are anticipating a number of Preferential creditor claims as several Company employees were made redundant prior to the date of Administration, which would result in preferential claims being received by the Company.

4 . 5 Therefore , the Joint Adm i nistrators bel ieve that Objective 1 is achievable . However, if the Joint Adm i nistrators do not consider it appropriate to issue proposals for a CVA, they will seek to achieve Objectives 2 and 3 . 5. MANAGEMENT OF THE COMPANY'S AFFAIRS SINCE THE JOINT ADMINISTRATORS' INVOLVEMENT

5.1 On appointment, the Joint Administrators undertook an immediate review of the Company's affairs with particular regard to its financial and resource requirements. This assessment was carried out in liaison with the Directors and other key staff having regard to the Company's ongoing business commitments and the anticipated cash flows.

5 . 2 Professional valuers , AL , were i nstructed to undertake a detailed valuation of the Company' s business and assets .

5 . 3 A breakdown of the valuation provided by AL was as follows :

Market Value Break Up Value £ £ Office Furniture & E ui ment 13,780 3,355 Fixtures & Fittin g s 8,330 1,045 Com puter E ui ment 6,480 1,030 Total 28 , 590 5,430

5. 4 AL informed the Jo i nt Adm i nistrators that due to the nature of the assets (cons i sti ng ma i nly of Computer Equipment, Office Furn iture & Equ i pment and Fixtures & Fitti ngs) a marketing campa ign should not be undertaken due to the costs that would be incurred in th i s matter.

AL have approached the Directors of Harlequin Hotels & Resorts (UK) Limited ('HHR'), who traded from the same premises as the Company, in order to ascertain whether HRR was interested in purchasing these assets on an in-situ basis. AL are currently awaiting an offer from HHR in this matter.

Should no offer be received from HHR then AL's recommendation is that the assets should be uplifted from the Company's premises and disposed of on a break up basis.

Therefore, at present the Joint Administrators are unable to provide creditors with any details pertaining to the sale of the Company's assets, however, this matter will be addressed in the next report that will be issued by the Joint Administrators office.

5. 5 Should an offer from HHR be received and accepted for the assets , the Joint Adm i nistrators must disclose details of the sale , if it is pertained that the sale has taken place with a connected Company . Please note that the Jo i nt Adm i nistrators must adhere to the contents of Statement of Insolvency Practice 13 ( E&W) - Acquisition of Assets Of Insolvent Compan ies By Directors - and that this i nformation will be disclosed i n the next report to be issued by the Joint Administrators' offi ce should the assets be sold to a connected Company .

Alternatively, if any creditors wish to provide details of their interest in these assets all offers submitted will be considered by AL. Should any creditors wish to submit such an offer, please do not hesitate to contact the Joint Administrators' office upon receipt of this report so that the relevant contact information can be provided.

6 5 . 6 Other Assets detailed in the Directors Statement of Affairs

Cash at Bank

Following the appointment of the Joint Administrators, the Company's bank accounts were frozen with any funds held becoming a realisable asset in the Administration proceedings. According to the Directors' Statement of Affairs (Appendix 2), the Directors state that £1,195 is due to be realised in this matter. The Joint Administrators had written to the bank in order to recover these funds and as you will note from the Receipts & Payments account, see Appendix 3, funds totalling £2,056 were realised in this matter.

Trade Debtors

As detailed in the Director's Statement of Affairs (Appendix 2), the Directors state that the Company had an outstanding debtor ledger of £42,055 at the date of Administration. The Directors however believe that these debts will prove unrealisable and therefore the estimated to value for the debtor ledger is shown as Nil. The Joint Administrators are in the process of pursuing these debts.

Funds due from Related Parties

According to the Director's Statement of Affairs (Appendix 2) , the Directors state that there are a number of related parties , wh i ch owe the Company £86, 341 , 302. These funds relate to dealings with a number of connected Companies . However, for the purpose of the Statement of Affairs , the Directors have shown the estimated to real i se figure as uncertain .

The Joint Administrators are making enquiries as to how these debts have been incurred, reviewing the accuracy of the amounts that have been listed as owed and the prospects of these being paid.

5 . 7 Other Potential Asset Realisations

Motor-Vehicle

The Company had entered into a lease agreement with Lex Autolease with regards to a motor-vehicle ( Range Rover - Reg istration Number: AK11 URR). Please note that AL have reviewed th is matter and have ascertained that the current outstand i ng finance , total li ng approximately £38 , 000 , exceeds the current value of th is asset .

AL have valued the motor-vehicle and have advised that on a willing buyer scenario the asset would have a value of £34,500, while on a forced sale basis would realise £29,000. Therefore, as there is no realisable equity in this motor-vehicle, the Joint Administrators have no further interest in this particular asset.

Leases

As detailed earlier in th is report, the Company operated from leasehold premises situated in Basildon , Essex . AL have been provided with cop ies of the relevant leases , however, followi ng thei r review of these documents , AL have informed the Joint Administrators that the leases have no realisable value i n the Adm i nistrati on proceedings . Therefore , the Joint Adm i nistrators wi ll contact the Landlords in order to surrender these leases accordingly .

5.8 Other Realisations

As can be seen from the attached Receipts and Payments account at Append ix 3 , there have been the followi ng realisations :

7 Freehold Property Sale

Duri ng the course of trading , a number of overseas properties were purchased utilis i ng Company funds . A Legal Charge of Property Deed was entered i nto whereby the Company has a beneficial interest in these properties. Followi ng the recent sale of a property in Dubai , the Joint Admin istrators have received sale proceeds totalling £200 , 000 . The Joint Administrators are currently in the process of obtaining an up to date position with regards to the vari ous properties to establish whether these have been sold or if they are be i ng marketed for sale . This may result i n further funds bei ng realised in the Adm i nistration .

Voluntary Payments

Prior to the Joint Administrators' appointment, Mr David Ames, husband of Mrs Carol Ames and father of Mr Daniel Ames, provided personal funds totalling £10,000 to Shipleys LLP to cover any costs that may have been incurred by this office in the event that no asset realisations were made.

Refund of Solicitors Client Account

The Joint Administrators received a cheque in the sum of £67 . 74 from Jeffries Solicitors with regards to the funds that were held in thei r cl ient account.

6. CREDITORS ' CLAIMS

6. 1 Secured Creditors

6 . 1 . 1 Please note that the Company had not granted a debenture to any third party and therefore the Joi nt Admin istrators do not antici pate receiving any Secured creditor claims i n these proceed i ngs .

6 . 2 Preferential Creditors

6 . 2 . 1 Prior to the date of Adm i nistrat ion , the Directors made a number of Company employees redundant. The Joint Administrators are therefore anticipating a number of preferential claims with regards to outstand i ng wages and holiday pay in these Administration proceed i ngs .

6 . 3 Unsecured Creditors

6.3.1 From the information provided by the Directors it is anticipated that unsecured creditor claims will amount to £89,128,851. To date, the Joint Administrators have received unsecured creditor claims totaling £6,166,149.

6 . 3 . 2 Based on present i nformation , the Jo i nt Administrators are unable to provide details as to the likelihood of any unsecured distribution as this wi l l be dependant on any further asset realisations , preferential cred itor clai ms and any costs that have been incurred in these Admin istration proceedings .

6 . 3 . 4 Attached to this report is a l i st of the Company's cred itors whose details have been provided by the Di rectors .

6.3.5 Following my appointment, I received numerous claims from Company investors, however, it appears from the documentation that has been provided that the Company only acted in an intermediary capacity between the investor and the relevant overseas Companies. 6 . 3 . 6 For the purpose of th is report, the Joint Adm i nistrators have not recogn i sed these potential investor claims as the contractua l relat i onsh i p is between the i nvestor and the overseas Companies . The Joi nt Admin istrators are currently seeking legal advice in th is matter and wi ll update creditors of th is opinion in due course .

6 . 3 . 7 However, pend i ng recei pt of the legal advice , i nvestors are entitled to subm it details of thei r unsecured claim to the Joint Admin istrators offices .

7. PRESCRIBED PART

7.1 Under the provisions of Section 176A of the Insolvency Act 1986, I must state the amount of funds available to unsecured Creditors in respect of the prescribed part. This provision only applies where the Company has granted a floating charge after 15th September 2003 and where it is estimated that the Company will have, after discharging the costs of the Administration and preferential creditors claims, net property exceeding £10,000.

7 . 2 The Company had not granted a floating charge to any cred itor, and consequently there will be no prescribed part in th i s Admin istrati on .

8. INVESTIGATIONS

8 . 1 Investigations i nto the Company' s affairs and the conduct of the Di rectors prior to the Company bei ng placed i nto Administration are ongoing .

8.2 I have commenced detailed investigations into the Company's affairs and a report on the conduct of the Directors will be submitted to the Department of Business, Innovation and Skills in due course.

8.3 I should be grateful if creditors could notify me in writing should there have been any matters relating to the Company, or the Directors' conduct, that requires further investigation as a matter of urgency.

9 . EC REGULATIONS ON INSOLVENCY PROCEEDINGS

9 . 1 I am requ i red under the Insolvency Rules 1986 to state whether and if so the extent to which the above regulati ons apply to this Adm i n istration . In th is particular case the EC Regulati on will not apply to this Adm i nistration there being no establ i shment outside the UK.

10. POSSIBLE OUTCOMES FOR THE COMPANY AND CREDITORS

10.1 The Insolvency Act 1986 and Insolvency Rules 1986 provide a variety of options regarding the possible exit routes for the Company from the Administration, being primarily a Company Voluntary Arrangement, Liquidation or Dissolution of the Company.

10 . 2 As referred to above , there is a possib i l ity of the Company exiti ng the Admin i strati on via a CVA. The Joi nt Administrators are currently making enqu i ries into the prospect of the connected parties debts being repaid and , if it transpires that these are l i kely to be received , consider issu i ng proposa ls for a CVA.

10.3 However, if the Joint Administrators believe that the CVA is not a viable prospect, should the connected parties debts not generate the requisite funds or prove unrealisable in these proceedings, then the Joint Administrators recommendation would be to place the Company into Liquidation.

9 10.4 Creditors' Voluntary Liquidation is considered in the best interests of creditors because a Liquidator has the power to make a distribution to unsecured creditors without the need to make an Application to Court for sanction, thus saving any legal costs that may be incurred in this matter.

10 . 5 I propose that my fellow pri nci pal Stephen Ryman and I be appo i nted Jo i nt Liqu i dators should the Company be placed into Creditors Voluntary Liquidation . However, in accordance with Paragraph 83 (7) of Schedule 131 of the Insolvency Act 1986 and Rule 2 . 117A(2)(b) of the Insolvency Rules 1986 , creditors may nominate a d ifferent person as the proposed Liqu idator in the event of a Cred itors' Voluntary Li qu idation , provided that the nomination is made before the Proposals are approved .

10 . 6 In accordance with Section 231 of the Insolvency Act 1986 , any act required to be taken by the Joint Liqu idators can be undertaken by either one of them acting i ndependently .

10 . 7 Under the amended provis ion of the Insolvency Act 1986 and 2000 , there is no requirement for an additional Members and Cred itors Meeting to be convened to place the Company into Creditors' Voluntary Liquidati on . This i s because the creditors can agree to the nominated Liquidator at the meeti ng to be held by correspondence . As a result , the transition from Admin istration to Liquidat ion is relatively seamless .

10.8 Unlike a Compulsory Liquidation, which is another option available to the Company, under Creditors' Voluntary Liquidation, a Liquidator is not required to place asset realisations in an Insolvency Service Account which would incur the following taxes:

Charg e on the fi rst £2 , 500 . 0% Charg e on the next £1 , 700 . 100 % Charg e on the next £1 , 500 . 75% Charg e on the next £396, 000 . 15% Charg e on the Balance until total of £80 , 000 taken i n fees . 1%

10.9 Should there be insufficient funds available to make a distribution to unsecured creditors, but further investigations into the Company's affairs and the Directors conduct are required, then the Joint Administrators will issue a Petition in order to move the Company into Compulsory Liquidation.

10 . 10 The Joint Adm i nistrators do not feel that D i ssolution is an appropri ate exit route from the Admin istration .

11 . JOINT ADMIN ISTRATORS ' PRE AND POST APPOINTMENT REMUNERATION

11.1 Under the Insolvency (Amendment) Rules 2010, Joint Administrators are able to request payment of Pre-Administration costs as an expense of the Administration. These costs are fees charged and expenses incurred by the Administrators, or another person qualified to act as an Insolvency Practitioner, before the Company entered into Administration but with a view to it doing so. I advise that I have incurred time-costs of £33,113.86 prior to my appointment. My time-costs represent a total of 82 hours and 15 minutes. A full breakdown of this time is attached at Appendix 4. Creditors may recall from my initial letter, dated 8th May 2013, that time-costs of £28,323.28 had been incurred prior to my appointment, however, please note that the additional £4,790.58 relates to un-posted time-costs, which had not been accounted for when the letter had been produced at that time.

11 . 2 In accordance with Rules 2. 33(2A) and 2 . 33(26)1 disclose the following :

11 . 2 . 1 On 19th April 2013, the Directors instructed Sh i pleys LLP to assist them with the formalities of enteri ng into Admin i strati on and to provide advice thereon .

10 11 . 2 . 2 Work carried out by Shipleys LLP i ncluded liaisi ng with key stakeholders , advising on employee issues , consultations and advising the Company generally .

11 . 2 . 3 This work was carried out so that the Joint Adm i nistrators could better achieve the object ive in order to enable a more expeditious return to creditors whilst managing and m itigating the impact of the insolvency for the Company's creditors .

11 . 2 . 4 Pre-appointment fees and expenses i ncurred by the Joint Adm i nistrators or by the Company under thei r recommendation are detailed below:

11 . 2 . 4 . 1 Shipleys LLP have incurred time costs totalling £33 , 113 . 86 , exclusive of VAT i n relation to advi ce and assi stance g iven as deta i led in Paragraph 11 . 2 . 2 .

11 . 2 . 4 . 2 Shipleys LLP did not incur any pre appointment disbursements .

11 . 2 . 4 . 3 Sol icitors , Charles Russell LLP (' CRLLP ') , provided advi ce and assi stance with regards to a number of pre-appointment issues . CRLLP i ncurred costs of £9 , 918 . 50 plus VAT in relati on to th i s advice .

11 . 2 .4 . 4 No pre appo i ntment costs were incurred by any other Insolvency Pract iti oner .

11 . 2 . 4 . 5 The payment of the unpaid pre-adm i nistration costs set out above at 11 . 2 . 4 . 1 as an expense of the admin istration is subject to the approval of cred itors in accordance with Rule 2 . 67A and is separate to the approval of the Joint Adm i nistrators ' Proposals . Th is approval wi ll be the responsib i lity of the Creditors' Committee if one is appointed , or alternatively , by resolution of the meeti ng of Creditors to be held on 12th July 2013 , where there is no Comm ittee . A separate resolution regarding the approval of pre-appo i ntment costs can be found on the form of Proxy at Appendix 9 .

11 . 3 Pursuant to the Insolvency Rules 1986 , the Joint Administrators are obliged to fix thei r post appointment remunerat i on in accordance with Rule 2 . 106 of the Insolvency Rules 1986 . This permits remuneration to be fixed either:

(1) as a percentage of the value of the property with wh i ch he has to deal ; or

(2) by reference to the time properly given by the insolvency practitioner (as Administrator) and his staff in attending to matters arising in the Administration; or

(3) as a set amount ; and/or

(4) as a combination of the above .

In this instance I am requesti ng approval of my remuneration by reference to the ti me myself and my staff have spent attending to matters in this Administration .

I attach at Append ix 5 a schedule that summari ses the time that has been spent in administering th is Administration to 26th June 2013 . The ti me costs total £69 , 796 . 79 , which represents a total of 227 hours and 20 m i nutes work, at an average charge out rate of £307 . 03 per hour.

11 . 4 For your reference , I attach at Appendix 6 a Cred itors Gu ide to Adm i n istrators' Fees and a document outlining the policy of Shipleys LLP in respect of fees and d isbursements .

11 12. JOINT ADMINISTRATORS' POST APPOINTMENT DISBURSEMENTS

Where disbursements are recovered i n respect of precise sums expended to th i rd parties there is no necessity for these costs to be authorised , except for when they are i ncurred pre appointment . These are known as Category 1 disbursements . We therefore report that the sum of £1 , 855 . 95 has been incurred in respect of Category 1 disbursements as follows :

Disbursements Post appointment disbursements £ Advertising 84 . 60 Postage 429. 18 Storage 1 , 307 . 97 Compan ies House Searches 22. 00 Travel Costs 12 . 20 Total 1,855.95

Administrators often charge expenses for example stationery, photocopying charges and fax cost. Such expenses, which are attributable to cases, require the approval of the creditors, regardless of when they are incurred, before they can be drawn and these are known as Category 2 disbursements. I can confirm that Category 2 disbursement expenses totalling £1,479.00, have been incurred as follows and require the specific approval of the creditors:

Disbu rsements Post appointment disbursements £ Photocopying 1,479.00 Total 1 , 479. 00

13. FURTHER EXPECTED COSTS TO THE ADMINISTRATION ESTATE

13 .1 SOLICITORS FEES

CRLLP have incurred costs and disbursements to date, of £25,248.95 and £8,635 (which include Counsel fees) plus VAT respectively, with regards to advice and assistance that they have provided to the Joint Administrators on a number of legal matters that existed prior to the date of Administration and following the Joint Administrators' appointment.

13.2 AGENTS FEES

As detailed earlier in this report, a professional valuation firm, AL, were instructed in order to undertake an inventory of the Company's assets and to provide the Joint Administrators with a detailed report as to the values of these assets. I can confirm that this process has been undertaken by AL and their valuation report has been received in this matter, however, the Joint Administrators have not yet been informed of AL's costs to date.

13.3 IT Specialist Firm Fees

Following my appointment as Joint Administrator, I duly instructed an IT Specialist Firm, Palmer Legal Technologies Limited ('Palmer'), to attend the Company's premises on 8th May 2013 in order to obtain a copy of the Company's computer server. I can advise that I received an invoice from Palmer in the sum of £1,382.48 plus VAT and this has been discharged from funds held in the Administration estate.

12 In addition, Palmer also attended the Company's premises with the Joint Administrators on 14th June 2013 in order to provide further IT assistance and support. Palmer have informed the Joint Administrators office that further costs totaling £3,800 plus VAT have been incurred, however, the Joint Administrators have not yet received an invoice in this matter.

1 3 .4 Statement of Affairs

In order to comply with the Joint Administrators' request for a Statement of Affairs, the Directors duly instructed a firm of accountants, Baker Clarke, to provide them with assistance in completing this documentation. Baker Clarke have informed the Joint Administrators' office that their costs to produce the Statement of Affairs is £6,000 plus VAT. Please note that these costs are to be discharged as an expense in the Administration.

14. STATEMENT OF PROPOSALS UNDER PARAGRAPH 49 OF SCHEDULE 61 OF THE INSOLVENCY ACT 1986

14 . 1 In accordance with Paragraph 49 of Schedule 61 of the Insolvency Act 1986 , it is proposed that the Jo i nt Adm i nistrators :

(a) Continue to manage the affairs of the Company and do all such things in order to achieve Objective 1 of the statutory purposes of the Administration;

(b) If appropriate the Joint Administrators will take all steps necessary to settle outstanding Administration costs and issue proposals with regards to a Company Voluntary Arrangement;

(c) Should the Joint Administrators determine that a Company Voluntary Arrangement is not a viable prospect, then the Joint Administrators should take all steps necessary to settle outstanding Administration costs and place the Company into Liquidation;

(d) If funds become available to allow a distribution to unsecured creditors, the Company will move to Creditors' Voluntary Liquidation in accordance with Paragraph 83 of Schedule 131 of the Insolvency Act 1986;

(e) Should the Company enter Creditors Voluntary Liquidation then Anthony Davidson and Stephen Ryman of Shipleys LLP, 10 Orange Street, Haymarket, London WC2H 7DQ, be appointed Joint Liquidators of the Company for the purposes of such winding-up. Any act required to be taken by the Joint Liquidators can be undertaken by either one of them acting independently;

(f) Should there be insufficient assets to enable a distribution to unsecured creditors, to allow for further investigations to be conducted into the Company's affairs then the Joint Administrators will take all steps necessary to Petition for the Compulsory Liquidation of the Company;

(g) Upon the appointment of Anthony Davidson and Stephen Ryman as Joint Administrators of the Company ceasing to have effect, they will be discharged from all liability in respect of any actions as Joint Administrators;

(h) The basis of the Joint Administrators' Post Appointment remuneration be considered and, if appropriate, agreed by either any Creditors' committee appointed or by the Creditors at the Meeting, which is to be held on Friday 12th July 2013 or any subsequent Meeting convened for that purpose and in the event that a Creditors committee is not appointed, agreed by reference to the time spent by them and their staff in the conduct of the Administration in accordance with the Shipleys LLP "Creditors Guide to Fees"; and 13 (i) The Joint Administrators be authorised to draw all Post Appointment, as well as future disbursements (including those as categorised in the revised Statement of Insolvency Practice 9, Category 2), in accordance with the rates of charge as detailed in the Shipleys LLP "Creditors Guide to Fees".

15. CREDITORS ' VOTING RIGHTS

15.1 As discussed in Section 1 above, pursuant to Paragraph 51 of Schedule 131 of the Insolvency Act 1986, I shall be calling a meeting of creditors, formal notice of which can be seen at Appendix 7.

15 . 2 Having consi dered this proposal , creditors are entitled to vote for the amount of their debt by completing and returning the Proof of Debt and Proxy at Appendices 8 and 9 respect ively and these are to be received at the Joi nt Adm i nistrators offi ces by no later than 12 . 00 p . m . on Thursday 11th July 2013 . Creditors who have un-l iqu idated or unascertained debts may only vote if an estimated m i n i mum value is placed upon their debt for the purpose of voti ng entitlements .

15 . 3 The Joint Adm i nistrators have the right to reject any cred itor's claim in whole or i n part for the purpose of h is or her entitlement to vote. Any cred itor whose cla i m is so rejected has the right of appeal to the Court within 28 days of the filing of the Chairman 's Report on the meeting .

Should you have any queries in relat i on to this matter, please contact Mr Grant Meadows of this office .

,"' 26th June 2013

14 Appendix I shi I e Chartered Accou ntants & Profe ssional Busi ness Advfsers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Statutory Information s i eys LL:P Chartared AcCiLin3ants & Profe•, u ,i ?usiciess Adyisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Company Information :

Company Name Harlequin Management Services (South East) Limited Company Number 4205220 Date of Incorporation 25th April 2001 Trading Address 11 Honywood Business Park , Honywood Road , Basildon , Essex SS14 3HW Registered Office C/o Shipleys LLP , PO Box 60317 , 10 Orange Street, London WC2H 7WR Principal Activity Real Estate Agency Previous Trading Names None

Appointment Details :

Date of Appointment 3rd May 2013 Appointment made by Directors under Paragraph 22 of Schedule B1 of the Insolvency Act 1986 Court Address High Court of Justice, Chancery Division, London Court Reference 2989 of 2013 Administrators Anthony Peter Davidson IP Number: 11730 Stephen Blandford Ryman IP N umber: 4731

Director and Shareholder :

Company Directors Carol Ames & Daniel Ames

Company Secretary Daniel Ames

Shareholder Ordinary Carol Ames 600 Daniel Ames 100 David Ames 100 Nicola Kelliher 100 Martin Ames 100 Total : 1 ,000

Share Capital

Authorised Allotted , called up and fully pa id

1 , 000 ordinary shares of £1 each 1 , 000 ordinary shares of £1 each ship Appendix 2 PJY D Chartered Accountants & Professional Business Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Statement of Affairs Rule 2.29 Form 2.148

Statement of Affairs

Name of Company Company number Harlequin Management Services 04205220 (South East) Limited

In the Court case number High Court of Justice, Chancery Division 2989 of 2013

Statement as to the affairs of Harlequin Management Services (South East) Limited of 11 Honywood Business Park, Honywood Road, Basildon,. Essex SS14 3HW on the 3 May 2013, the date that the Company entered Administration.

Statement of Truth I believe that the facts stated in this statement of affairs are a full, true and complete staternenc of the affairs of the above named Company as at 3 May 2013 the date that the company entered Administration.

Full name: <::;^L. _ &p(nJ 44.t, --^

Signed: (:2a!^ yo- G=t_^

oatea: ^-5 { 6 ( ^ `^ A - Summary of Assets

Assets

Assets subject to fixed charge:

Assets subject to floating charge:

Uncharged assets: fs x Q d Ass*--k-s v. t4. ^ia*^1^C Octid- CaSh - S^°e .5^.1-^a_d^.

bue f^r ,n, ^rCA o. p o^fttcs -s e.a.. Scl-^4

Estimated total assets available for preferential creditors

Signature: Date: 05-101 3 Harlequin Management Servfces (South East) Limited Summary of Assets

Fixed Assets Baok. Estimated Value to Realise f £

Office Equipment 11,612.00 wrnilure & FfxWres 26,913.00 Exhlbidon(showroan equipment 47,986.OU Improvements to premises 6,986.00 Computer equipment isz,xn.oa 235,734.00

Bank Accounb eook Estimated Value to Reelisa f £

Barclays CumentAaount -4,615.00 -4,625.00 .t Bardays USD Acoourd 23123 231.23 Petty Cash 1,787.91 1,787.91 Bardays qtmt Accaunt -160. 56 -16156 Bank of St Lucia Aamunt 2,438.65 2,438.65 Banco Popular 1,512.81 1,512.81 1,195.04 1,195.04

Trade Debtors Book Estimated Value to Realise £ £

Baker 17IIy 6o,oo 0.00 Bridcsbodc Wealth Management Ltmited 25,311.01 0.00 Rob & Wendy 3ones 1,609.67 0.00 Harlequln Holdings (SE) Partners hip 15,075.12 0.00

42,055.80 0.00

Book Estimated Due From Related Pa rties Value to Reatise £ £ Due from Rdoted Aortler,

ovenew developmenr compaNrs Ha rlequin Propertks (Caribbean) Llmt=ed 2,652,532,50 Uncertain Harlequin Boutique Hotd Ltd (Ba rbados) 943,573.90 Uncertain Harl equin Property (SVG) Ltd 22,313,38811 Uncertain Hart equtn Barbados Property Ltd 1,159,044.76 Uncertain Harlequin Developments Limited 30,674,486.71 Uncertain Harlequin Boutique Hotel (St Luelo) ud 3,818,736.19 Uncertain Harlequin Liavry Hotels Barbados Ltd 3,396.758.39 Uncertain 64,957,501.86

Overseas Trodlnp compaaiv Harlequin USA 188.00 Uncertain Harlequin Air Limited L439,510 .52 Unartafn . Blu Ho:el Limited 399,283 .11 Uncertain BuaameM Bay Resort Ltd 19,413,018 .19 Uncertain 21,256,999.82

Shareholders; Da niel Ames 49,997.01 Uncertain Matt Ames 32,oos.59 Uncertain N (rolo Ke0lher 44,795.23 Uncertain D ave Ames a,oo UncertaU 126,800.93

Total 86,341,302.61 0.00

TOTAL ASSETS 86,620, 287.45 8,695.04 Al - Summary of Liabilities

Estimated to reatise £

Estimated total assets available for preferential creditors £ '?, 6 g 5 (carried from Page A)

Liabilities Preferential creditors:- 5,'l 61

Estimated deficiency/surplus as regards preferential creditors £2-0 3,+

Estimated prescribed part of net property where applicable Q N^ L (to carry forward)

Estimated total assets available for floating charge holders £

Debts secured by floating charges £ IV ^ ^-

Estimated deficiency/surplus of assets after floating charges £

Estimated prescribed part of net property where applicable £ (brought down)

Total assets available to unsecured creditors £

Unsecured non-preferential claims (excluding any shortfall to £ 89,0. ^ae careo^.tor% 6 z $ ^ . ^+ a floatingtcharge 4,^e_. and Nt , 136,3 3 holders) s^^,^. ^^ c, 'O^ t ^ ^UW^M1SSIo1 ^' 1CSS^ 000^ Op0 e-}o r o^ r^ ^8^, 6o3^ b96 Estimated deficiency/surplus as regas non-preferentia l ^£gq^ 12-<,9 cred itors (excl uding any shortfall to floati ng charge holders)

Shortfall to floating charge holders (brought down) £

Estimated deficiencylsurplus as regards creditors £

Issued and called up capital £tooo

Estimated total deficiency/surplus as regards members 9 1-1 C £ 4 ' ^ 3 Date:

Si nature: ' • Harlequin Management Services (South East) Limited Summary of Liabilities

Preferred Creditors Book value f

Net wages 34,279.61

34,279.61 iR 'G1SIiY^

Unsecured non-preferential daims Book Value £

Trade Creditors- see attached 4,287,455.58 Paye.and national insurance 236,340.70 Student Loans 1,358.00 Sales staff commission unpaid- estimated 1,000,000.00

5,525, 1 54.28

Book Due to Related Parties Value £ Due to Rdated PaR,tes:

UK Trading companies HQ Worldwide Ltd 9,314.68 Harlequtn Travel Ltd 21,785.86 32, 100.54

Devdopment Companies •Harlequin Property Brazil Ltd 1,530,022.55 Harlequin Resorts (St Lucia) 4td 28,258,656.53 Dominican Republic-(Waters Meet Beach Reson: 38,994,414.11 68,783,093.19 Unal/ocated Investors deposits Harlequin - Jamaica 34,902.14 Suspense payments 92,946.67 Ravenswood 18,750.00 i46.598.81

Overseas Trading companies • Harleq uin Hotels & Resorts Limfted 9,095,614.54 9,095,614.54 Due to Sharehotders; Mrs & Mr Carol and Dave Ames 16,373.80 16,373 .50

78,072,780.88

TOTAL LIABILITlES 83,632,214.77 Trade Creditors Report

Details of any Date Amount of security held security Value of Name of Claimant Address with Postcode debt £ by creditor given security

1994 Ltd 4 Friarsgate 54,978 .65 None N/A N/A White Friars Chester CH 1 1XG

3C International Property Investments Ltd 5 Gorringe Road 28,040.e8 None N/A N/A Eastbourne BN22 8XL

5RB Mr Jacob Dean 5 Raymond Buildings 420 . oo None N/A N/A Grays Inn London WC1R 5BP

Aberdeen Chauffeur Drive 101 Hutcheon low Drive ao.oe None N/A N/A Aberdeen AB21 9WJ

Acorn - Education Ltd 6 St Georges Lodge 6 ,667 .75 None N/A N/A Weybridge Surrey KT13 OAB

Adams Catering 6 Ozonia Walk 873 .00 None N/A N/A Wic kford Essex SS12 OPH

AGWM Ltd Westfield Farm House 238 , 500 . 00 None N/A N/A Stratford Road Loxley Warwickshire CV35 93W

Aladdin Solutions Limited Ashlings Farm -932 . 71 None N/A N/A Blackmore Road Blackmore Ingatestone, Essex CM4 OJU

Alan Graham Westfield Farmhouse 22 ,953 .85 None N/A N/A Stratford Road Loxley Warwickshire CV35 93W

Alexander James Properties Ltd Kestrel Lodge 2 ,300 .00 None N/A N/A Upper Hexgreave Famsfield , Newark Nottinghamshire NG22 8LS aex okoiidon 14 Henderson Business Centre 1 ,838 .39 None N/A N/A Ivy Road Norwich NR5 8BF

Affie Morrison 5 Linkwood Court 1 ,539 .96 None N/A N/A Elg i n Moray IV30 6LD

No address, unlikely to have Altamont Court Hotel been paid 1 5.9o None N/A N/A None N/A N/A Harpurs Limited 7 Harpurs 4 ,799 .92 Tadworth Park Tadworth Surrey KT20 5UD

N/A N/A Andrew Furzer 12 Broadmeadow Avenue 11,75o.oo None St Thomas Exeter Devon EX4 1]Q

N/A N/A Antionette Joseph T/A ACJ Properties 1 ,9oo .oo None Garden Flat 174 Castle Hill Reading RG1 7RP

None N/A N/A The Armarium Group Ltd Eag l e Wharf 3 ,725.85 45 Lafone Street London SE1 2LX Great Britain

Asquith International 198 Shaftsbury Avenue 1e 1 .69 None N/A N/A Harrow Midd lesex HA2 OHW

N/A N/A Asset Property Brokers Ltd Asset House a ,ooi . oo None Church Road, Nenney Frome Somerset BAll 4LW

Assets Intemational 2 Tyler Close 2 1,702.44 None N/A N/A Edith Weston Rutland LE15 8EX

Atlantic Partnership LLP The Oast Offices, Park Barn Farm 19 , 154 .4o None N/A N/A Canterbury Road Ashford Kent TN25 4EW

Atlantic Overseas Investments Ltd The Oast Offices 1 ,700.34 None N/A N/A Park Barn Farm Canterbury Road Ashford , Kent TN25 4EW

No address, likely to have been Aurigny.com paid 7 .8o None N/A N/A

Axis Property Investment Ltd Pavilion House 19,571 . 07 None N/A N/A Tournament Court Edgehill Drive Warwick CV34 6LG

Azure Solutions (UK) Ltd 25 Bridge Street 22,375 .00 None N/A N/A Newport Gwent NP20 4B

Steve Bailey 3501 Ceitus Pkwy 869 .07 None N/A N/A Cape Coral FL 33991 Un ited States

The Baker Clarke Partnership Ltd Swiss House 3 , 671 .01 None N/A N/A Beckingham Street Tolleshunt Major Essex CM9 8LZ

Barnes Interiors Ltd Unit 1 Urban Drive 8 ,52 1.2o None N/A N/A 410 Avenue West Skyline 120, Gt. Notley Essex CM77 7AA

t/a Barrington Group B.G Butcher International 100 .08 None N/A N/A Crowsheath Farm House Hawkswood Downham Essex

BDO LLP Prospect Place soo.oo None N/A N/A 85 Great North Road Hatfield AL9 5BS

Beach Belles 157 Queens Road 6 ,329 . 33 None N/A N/A Weybridge Surrey KT 13 OAD

Brenda McAllister T/A Beba International Properties 11 , 666 .8o None N/A N/A 30 Wilson Avenue Troon KA10 7A)

Bernard Moore 20 Du rnsford Road 1 , 083 .50 None N/A N/A Wimbledon London SW19 8HQ

Blue Bay Travel Ltd Unit A4 io ,ooo . oo None N/A N/A Bellringer Road Trentham Business Quarter Stoke on Trent ST4 8GB

Blue Mountain Security Solutions Ltd Brodle Farm 39,951 .48 None N/A N/A Llanybri Carmarthen SA33 5AN

Blue Sky Property Investment 141 Neil Armstrong Way 3 ,867 . 85 None N/A N/A Eastwood Essex SS9 5UF

Lauthan Developments Ltd 39 Chapelwell Street 6 , 375 .09 None N/A N/A Sa ltcoats Ayrshire KA21 5EB

Bragagnini Associates Ltd Thinc House 166 .25 None N/A N/A 56 Princes Road Buckhurst Hill , Essex IG9 5DZ

Brooksfeller International 46 Blackboy Road 2,667.2o None N/A N/A Exeter Devon EX4 6SZ

N/A Buckinghams International 6 Station Approach 2 ,833 .70 None N/A Virginia Water Surrey GU25 4DL

N/A Buy Overseas Ltd Map House 9,956. 45 None N/A 3rd Floor 34-36 St Leonards Road Eastbourne BN21 3UT

Buy To Let Investors Ltd Provincial House moo.io None N/A N/A 3 High Street RYDE P033 2PN

Cannon Hill Services 323 Cannon Hill Lane 1e,6oo.oo None N/A N/A London SW20 9HQ

Capital Foundatlons Ltd Brick House 2,000.0o None N/A N/A 150A Station Road Woburn Sands Bucks MK17 8SG

Caribbean Investments Ltd All Saints Bam 1 48z7 None N/A N/A Swash Lane Rackheath Norwich Norfolk

Caribtours Ltd 210 New Kings Road 4 ,740.oo N one N/A N/A London SW6 4NZ

CaAton Nembhard Regus House 34 , 550 . 00 N one N/A N/A 54 Clarendon Road Watford Hertfordshire WD17 1DU

Carol J Muhammed 80 Earlham Grove 1,205.80 None N/A N/A Forest Gate London E7 9AR

Carter Ruck 6 St Andrews Street 25 ,050 .66 None N/A N/A London EC4A 3AE

CashFriday PO Box 10484 3,291.36 None N/A N/A Harlow CM20 9GY

CAS Clarks Shredding - Head CAS Ltd Office aa zo None N/A N/A Stour Valley Business Centre Brundon Lane Sudbury Suffolk

CasUeoak UK Ltd 6 New Bridge Street 2,500.4o None N/A N/A London EC4V 6AB

Cedar Communications 85 Strand 7,200.0o None N/A N/A London WC2R ODW N/A N/A Charles Thomas Inl Property Consultants 7 Gorsty Bank 1 0,882 .9o None Lichfield Staffs WS14 9UB

N/A N/A Chelmsford Plumbing and Heating 56 High Street t ss.zo None Great Baddow Chelmsford Essex CM2 7HH

T/A Positive Plus Property N/A N/A Chris Jones Investments 15,945.66 None 39 Carlton Crescent Beddau Pontypridd CF39 2RS

N/A N/A Citrix Online UK Ltd CHALFONT PARK HOUSE 104.4o None CHALFONT PARK GERRARDS CROSS SL9 ODZ

Compass 8 Hungerford St 8,333 . 33 None N/A N/A Cheltenham Glos 6L50 4HN

A N/A Concept Consultancy Properties Limited 7 Hinchley Road 1,9oo.oo None N/ Blackley Manchester M9 7FG

N/A Contrast Investments 3rd Floor, MAP House 76,8oo.oo None N/A 34-36 St Leonards Road Eastboume BN21 3UT

Cooperford Ltd 2 Belvedere Avenue 7,ooo.oo None N/A N/A Hockley Essex SS5 4UL

N/A Comhill Property Investments Ltd 6th Floor 9,999 .7o None N/A 52 Lime Street London EC3M 76S

Croucher B. T/A Cost Reduction Analysis Wentworth, 4B The Picquet 3 ,655 .00 None N/A N/A Bratton Westbury Wiltshire BA13 4RU

Crystal Sawden 8b Crabbton Close Road 7,470.oo None N/A N/A Boscombe Bournemouth Dorset BH5 1HL

Crystal Sands Investments Ltd 78 Lower Vicarage Road 21,650.04 None N/A N/A Kennington Ashford Kent TN24 9AP

David Peachey Viewfield Bungalow 400.32 None N/A N/A Hawkswood Road Downham, Nr Billericay Essex CM 11 1JT

DDL Financial Solutions Ltd 32 Lilford Road 2,700 .36 None N/A N/A Billericay Essex CM11 16S

Destination RepresentaGon Ltd 26 Nicholas Gardens 3,780 .oo None N/A N/A Slough Berkshire SL1 517

Karen Devenish ( Expense Account) Staff expenses 2 .24 None N/A N/A

Diamond Estate 47 Greencastle Street 1 , 833 . 30 None N/A N/A Kilkeel Co Down BT34 4BH

Diasoleadoinvest ( BACS) Calle Coronel Benz 6 7,375.oo None N/A N/A 2A Arrecife de Lanzarote Las Palmas 35500 Spain

Discovery Forensics 23 Austin Friars 1 2 ,600.oo None N/A N/A London EC2 N 2Q P

DLA Piper UK LLP 3 Noble Street azo.oo None N/A N/A London EC2V 7EE

D & M McLaren Ltd 3 , 358 .65 None N/A N/A

Dolphin Golf Property Limited 89a Cock Road s ,aao .oo None N/A N/A Kingswood Bristol Avon BS15 9SG

Edgars Property Company Ltd Shelletts House soo.ao None N/A N/A 51 Portsmouth Road Thames Ditton KT7 OSY

Godways Wetsi 167B Hertford Road 79 1.49 None N/A N/A Lower Edmonton London N9 7EL

Elite Property Consultancy KE NILWO RTH 2 ,oso .oo None N/A N/A PARROTTS CLOSE RICKMAN SWORTH CROXLEY GREEN HERTS WD3

Ellesmere Property Group The Shippon 2,500.4o None N/A N/A La skey Lane Thelwell Warrington Cheshire

Ely Place Chambers 30 Ely place 1,500 .0o None N/A N/A London EC1 N 6DT

Emerging Property Markets.com U K Ltd Clarence H ouse 36,941 .22 None N/A N/A Clarence Street Leamington Spa CV31 2AD

None N/A N/A EPM (UK) 4,387 . 50

None N/A N/A The Empire Property Group Ltd 45a Brighton Road 1 ,999 .75 Surbiton Surrey KT6 5LR

N/A N/A Exclaimer Ltd Alpha House 568.8o None 9-11 Alexandra Road Farnborough

N/A N/A Exclusive Global Investments Ltd 20 High Street 34 ,639.08 N one Haverfordwest Pembrokeshire SA612DA

N/A N/A Exclusive Solutions Limited 21 Freathy Lane -8,500.00 None Kennington Ashford Kent TN25 4QP

N/A Executive Minibuses Ltd 8 Haywards 200.0o None N/A Teviot avenue Aveley Esses RM15 4QP

N/A N/A Expedia.co.uk 61.86 None

N/A N/A Experts Exchange PO Box 1062 -68.00 N one San Luis Obispo Canada

N/A Finance Confidential Springs 1 63 .59 None N/A Hoe Lane Essex EN9 2RB

Finlays Bureau of Investigation Ltd 54 Church Road aa.oo None N/A N/A London SE19 2EU

Fiona Binnie Flat 3 z,ooo.oo None N/A N/A 53-54 Broad Street Worcester WR1 3LR

The Flight Specialist 8 ,400 .00 None N/A N/A

Fortune International Real Estate Investments T/A Fire Invest 40 ,575 .00 None N/A N/A 72 Newbury Street Wantage Oxfordshire

Forty40 Ltd 18 The Water Gardens 59,709.68 None N/A N/A De Havilland Drive Hazlemere Bucks HP15 7FN

Four Communications Plc The Communications Building 31,823.56 None N/A N/A 48 Leicester Square London WC2H 7

Francis Dwan -9,500.00 None N/A N/A

Fresh Invest Ltd Unit A Hills Bam 394 .45 None N/A N/A Appledram Lane South Chichester West Sussex P020 7EG

390.28 None N/A N/A Galerie International T/A Properties Abroad .corr 22 Cannon Hill Southgate Green London N14 6BY

634 .40 None N/A N/A Gary Player Overtide -5 ,

s7s .oo None N/A N/A Genassist Ltd 2 Martin Walk Hawkwell Essex SS5 4 LP

t/a Genesis Property N/A N/A Greer Pownall Developments (NW) Lt 833 .85 None 46 Strathmore Drive Crosby Liverpool L23 ORB

N/A N/A Global I nternational Consultants Ltd 76 Sandy Lane 1 ,742. 15 None Cheam Surrey SM2 7EP

N/A N/A Global Property Partnership 21 York Place 16,286 .4o None Leeds LS l 2 EX

N/A N/A The Global Property S upport Network plc 14-16 Dowgate Hill 24,326.25 None London EC4R 2SU

None N/A N/A Global Tennis Limited 4th Floor 12,990 .32 132-134 College Road H arrow Middlesex HA 1 1 BQ

N/A Goodridge Roberts Ltd 28 London Road 22,soo.oo None N/A Elworth Fax Sandbach Cheshire CW11 3BD

Graham Nieto C/0 Designated Land 333 . 30 None N/A N/A 2nd Floor 156 Blackfriars Road London SE1 8EN

Graham Swain 3 Buchanan Close 5 , 805 .00 None N/A N/A London N21 1SG

Gravity Global Investments 1st Floor 14,6eo.51 None N/A N/A 75B New Rd Side Horsforth Leeds LS18 4QD

Grenadine House PO Box 2523 2,996.21 None N/A N/A Kingstown St Vincent

Gros venor Park Intelligent Inve stment Ltd Gildredge H ouse 72 ,823 . 11 None N/A N/A 43 Gildredge Road Eastboume East Sussex BN21 4RY

N/A Grove Paric Finance c/o Hunters Estate Agents 1 ,399.86 None N/A 23 Finkle Street Selby North Yorkshire Y08 4DT

N/A GSE M anagement Ltd 22 Upper street 2 ,647 .58 None N/A London N 1 OPQ

N/A AquAid (Essex) Unit C, Wrexham Road 808.62 None N/A Laindon Basildon Essex SS15 6PX

Hallmark Mortgages & Overseas Properties Suite LN9, Armstrong House 6, 166.3o None N/A N/A First Avenue, The Finningley Estate Doncaster South Yorkshire DN9 3GA

Hanratty & Co Solicitors The Eagles, Shortbridge Street t 5o.oo None N/A N/A Newton, Powys SY16 2LW

Hansard Worfdwide Ltd The Post Barn 49,41 8.7o None N/A N/A Cooks Corner Business Park London Road, Crowborough East Sussex TN6 1TQ

Neil Denton 34 Branksome Hill Road 3 , 386 . 76 None N/A N/A Bournemouth Dorset BH4 9LE

Hardwicke New Square 7,575.50 None N/A N/A Lincoln's Inn London WC2A 3SB

Harlequin Holdings (SE) Partnership Dan and Carol Ames 1 3,077 .6o None N/A N/A

Harlequin Resorts Ltd Atrium Business Centre 2 ,678.8o None N/A N/A North Caldeen Road Coathridge ML5 4EF

Hawk Property Atrium Business Centre 49,366 .6o None N/A N/A North Caldeen Road Coatbridge ML5 4EF

Hays Specialist Recruitment Ltd H ays House s,soo.oo None N/A N/A St George's Square New Malden Surrey KT3 4JQ

Company Barclaycard Company Barclaycard Business 5,838 .27 None N/A N/A PO Box 3000 Teesdale Business Park Stockon-on-Tees T517 6YG Basildon District Council Revenue Services 34 , 194 . 73 None N/A N/A Church Walk House P 0 Box 4, Basildon Essex SS14 1BY

British Gas Payment Area 60 2,203.33 None N/A N/A Camberley GU95 lAW

Headlands International Ltd Jacaranda 6 , 510.e1 None N/A N/A 15 Traditional Villas Yiannaki Giovani 108 Vrysoulles 5522 Aheri

Hearst Magazines UK 72 Broadwick Street z Joo.oo None N/A N/A London W1F 9EP

Heller Ehrtnan 10 St Paul's Churchyard 61 ,460 .45 None N/A N/A London EC4M 8AL

Henley Consultants Ltd Unit 2, Alison House 8 ,075.oo None N/A N/A Cranes Farm Road Basildon Essex SS14 3JA

FedEx Sutherland House 236. 46 None N/A N/A Matlock Road Foleshill, Conventry CV1 4JQ

Hideaway Property Investments Ltd 119 Ironwood Avenue 3,200 . 16 None N/A N/A Desborough Northants NN14 2JU

Hillcrest Investment Property Ltd 1 Clickers Drive 2,999.25 None N/A N/A Upton Northampton NN5 4ED

HKA Enterprise LTD 35 Broome Road 22 ,735 .75 None N/A N/A Billericay Essex CM11 1ES

Holmes International Limited 162 Chelmer Road 2 ,016 .85 None N/A N/A Springfield Chelmsford Essex CM2 6AB

Hostgrange Limited PO Box 58 3 , 120 .oo None N/A N/A Bicester OX25 3YX

Paul Robinson The Old Bank 95 . 25 None N/A N/A 470-474 London Road Westcliff on Sea Essex SSO 9LD

Sage (UK) Ltd PO BOX 4598 1 , 356 .96 None N/A N/A Worthing BN11 9BU N/A N/A T- Mob ile P 0 Box 719 1,476.98 None Camberley Surrey GU15 3WS

one N/A N/A Michael Thompson (BACS) 3 Bankfield 1,895.62 N Modd Lane Holmsirth HD9 2JL

N/A N/A Holiday Extras . com 116.49 None

N/A N/A Imag ine Worldwide Spain SL Alhaurin Business Center 2,686.oo None Imagine Worldwide Spain SL Avd. Constitucion no 3 29120 Alhaurin El Grande Malaga Spa

N/A Independent Print Ltd The Independent 1,44o.oo None N/A 2 Derry Street London W8 5HF

N/A Infinity Real Estate 2 Butterfield Square 22,480.19 None N/A London E6 5QP

N/A Infra-Tech Forensics The Old Coal Yard 6,287.62 None N/A Little Waltham Road Chelmsford Essex CM1 7TG

IAP Global Ltd 2nd Floor, Eve House 16,333.75 None N/A N/A Adams Walk Kingston Upon Thames Surrey KTl 1DF

Instant Property Investor Ltd 7 Briar View 25,463.16 None N/A N/A Billericay Fax Essex CM11 2RH

Intel ligent Partnership Halford Chambers 25,131.95 None N/A N/A 1 - 3 Halford Road Richmond TW10 6AW

Investment Market (NI ) Ltd 28 Seaview 3,417 . 12 None N/A N/A Warrenpoint Newry County Down BT34 3NJ

Investabroad Properties Ltd Lonsdale House 1,667.oo N one N/A N/A 52 Blucher Street Birmingham Bl 1QU

Investaco 66 High Street 1,75o.oo None N/A N/A Broadstairs Kent CT10 1JT

Investment Fronti ers Ltd 4 Townfield Avenue 1,833.77 N one N/A N/A Farndon Cheshire CH3 6QL None N/A N/A S Parsad Consulting Intelligent Investment 8, 377 .23 First Floor, 201a Church Road Hove East Sussex BN3 2AH

N/A Jeffries Essex Courtway House -58 ,009 .39 None N/A 129 Hamlet Court Road Westcliff on Sea Essex S50 7EW

N/A N/A Jones Baker Ltd 35 Claremont Drive -2,000.00 None Vange Basildon SS16 4TL

N/A N/A Judith Morgan T/a The Money Gym 2,1 85.oo None Flat 2 32 Montrell Road London SW2 4Q6

N/A N/A Jupiter Facilities Management Ltd C/o Repton Court 2 38 .56 N one Basildon Essex SS13 1LN

c/o Devonports, Cumberland /A N/A JWK International House 35,263.so None N 24-28 Baxter Avenue Southend-on-Sea Essex SS2 6HZ

Kaleidoscope Design Ltd 9 Gallagher Close 43 ,337 .69 None N/A N/A Crownhill Milton Keynes MK8 OLQ

Kenwood Travel Rivington House 4,288 .oo None N/A N/A 82 Great Eastern Street London EC2A 33F

Kerswell Enterprises Ltd Kerswell Cottage 7 ,932 .83 None N/A N/A Broadclyst Exeter EX5 3AF

Kevin Neil 1 Trotwood Close s,ooo.oo None N/A N/A Chelmsford Essex CM 1 4UZ

Kilo Design 1 Coppice End 7,488.oo None N/A N/A Pyrford Surrey GU22 8PU

T/A Knightsbridge Overseas Brian Taylor Property Invest 1,282.45 None N/A N/A 16 Chichester Road Durham City DH1 5QL

L.T Heating Services Ltd 163 Down Hall Road sa.oo None N/A N/A Rayleigh Essex SS6 9PB Legge Solutions Ltd 3 The Regency Mansions 1 2,265.o5 None N/A N/A Newcomen Terrace Redcar TS10 1AU

Lex Autolease 1,018.97 None N/A N/A

Lexis Nexis PO BOX 1073 ios.eo N one N/A N/A Belfast BT10 9AS

Liat -50 ,241 .06 None N/A N/A

London International Property Services Ltd 70 Canonbury Road 5 ,499 . 50 None N/A N/A Canonbury London N 1 2DQ

Luke Williams 67a Langthorne Street 3,999.60 N one N/A N/A London SW6 6JU

Luther Pendragon Ltd Priory Court 69,822.19 N one N/A N/A Pilgrim Street London EC4V 6DR

Luxe Investment Property Unit 14 2 ,532 .98 N one N/A N/A Henderson Business Centre Ivy Road Norwich NR5 8BF

Maclnryre Hudson Ltd Boundary House 6 , 020 . 16 None N/A N/A 4 County Place Chelmsford CM2 ORE

MA Consultancy -5 ,000 . 00 None N/A N/A

Make Me Rich Ltd Apy Y Askilawn Apartments 24 ,600 . 00 None N/A N/A 2 Kincora Road Clontars Dublin 3 County Dublin

MAP International Properties Top Floor 7 ,500 .00 None N/A N/A 1c Dukes Road Troon Ayrshire KA10 6Q

Marcus James Professional 11 Lords Court 289 , 159 . 53 None N/A N/A Cricketers Way Basildon Essex SS13 1SS

Mario Sofroniou - Expense Account 82 .25 None N/A N/A

Master Solutions Ltd 43 Malvern Road 818 . 10 None N/A N/A Hornchurch Fax Essex RM 11 1BG

Matthew Roberts 5 Northcote Road 3 , 124 . 50 None N/A N/A Cl ifton Bristol Avon BS8 3HB N/A MBL Seminars Ltd The Mill House 120.00 None N/A 6 Worsley Road Worsley Manchester M28 2NL

McLaren Investments Ltd 8 Lynfield Road 8 , 183 . 27 None N/A N/A Lichfield Staffordshire WS13 7BS

Becky Mecklenburgh 43 . 40 None N/A N/A

Mercedes-Benz Finance (Daimler Chrysler Fina Burystead Court 205 .60 None N/A N/A Caldecotte Lake Drive Milton Keynes MK7 8ND

Michael Persaud 148 Conway Crescent 2 ,691 . 92 None N/A N/A Perivale Middlesex U66 83E

Michelmores 48 Chancery Lane 15 ,900 .00 None N/A N/A London WC2A 1JF

MIS Ltd 97 The Avenue 900 .00 None N/A N/A Hornchurch Essex RM 12 4)Q

The Money Tree Partnership C/o Paul Ferrin 69 , 125 .62 None N/A N/A 456 Oldpark Road Belfast BT14 6QG

Mopits Commercial Cleaning Services 5 Byron Close 1 ,008 . 00 None N/A N/A Canvey Island Essex SS8 8AP

Movewithus International Sterling House 14 ,000 .50 None N/A N/A Harding Way St Ives Cambridgeshire PE27 3WR

Musicians UK Ltd 21 Chiltern Business Centre 14 , 320 . 00 None N/A N/A 63-65 Woodside Road Amersham Bucks HP6 6AA

Mustique arways E.T Jushua Airport 24 ,208 .09 None N/A N/A St Vincent And The Grenadines

Saint Vincent and the Grenadines

Mustique Airways E.T Jushua Airport -1 , 154 . 75 None N/A N/A St Vincent And The Grenadines

Saint Vincent and the Grenadines

Nabarro LLP Lacon House 35 , 239 . 80 None N/A N/A 84 Theobald's Road London WC1X 8RW

Navigator Overseas Property Ltd 1544A Great Western Road 6,785 . 35 None N/A N/A G12 OAY Neelam Springer 3 Sandall Road 333. 80 N one N/A N/A London W5 1HZ

Caribbean Worldwide Investments Ltd 13 Pegasus Court 2,374 .62 None N/A N/A 3 Trenmar Gardens London NW10 6BR

Noble Recruiting Ltd 2 Repton House 21,475.98 N one N/A N/A Repton Close Burnt Mills Basildon SS13 lU

Offplan Property Abroad Ltd Londsdale House 4 , 807 .94 None N/A N/A 52 Blucher Street Mailbox Birmingham Bl 1QU

The OFM Group Ltd 3rd Floor Suffolk House 1 , 065 .90 None N/A N/A 104 Baxter Avenue Southend Essex SS2 6]P

One Property EPIC, 4 Barling Way 186.90 None N/A N/A Nuneaton CY10 7RH

Orange Supplies Ltd T/A Alan Strutt Photography 4,320.00 None N/A N/A 98 De Beauvoir Road London N1 4EN

Overseas Homes Forever Ltd 45 Perrymount Road 10,1167.20 None N/A N/A Haywards Heath West Sussex RH16 3BN

Barrasford & Bird Worldwide Bedford Court 10 ,000 .00 None N/A N/A Russell Street Tavistock Devon

David Owen 19 West Over Drive 3, 180 . 37 None N/A N/A Stone Staffordshire ST15 8lT

Pay As You Grow Ltd 3rd Floor, Surrey House 1 ,500.00 None N/A N/A 34 Eden Street Kingston Upon Thames Surrey KT1 1ER

PCS Legal 5 The Capricorn Centre 60.00 None N/A N/A Cranes Farm Road Basildon Essex SS14 33A

Pearly Gray Limited Rosehill Barns 62 ,976 . 69 None N/A N/A Chetwode Buckinghamshire MK18 4LF N/A Phoenix Altemative Investments Ltd 2 Dedvuyn Close 62,575.00 None N/A Foelgastell Llanelli Carmarthenshire SA14 7ER

N/A Pinnacle Computing Ltd 153 Upper Newtownwards Road 1 , 595 . 00 None N/A Belfast BT4 3HX

Pitney Bowes Finance PO Box 6569 4 .039.20 None N/A N/A Harlow Essex CM20 2FQ

N/A Platinum Investment Property Ltd Home Farm 79,54 1.39 N one N/A High Road Great Finborough Suffolk IP14 3BQ

P.M Raffan 35 Thorpe Bay Gardens 60 .00 None N/A N/A Thorpe Bay Essex SS1 3NR

Polk Majestic Travel Group 3773 Cherry Creek North Drive 22 . 10 None N/A N/A Suite 703 (East Tower) Denver Colorado 80209

Portfolio PDS Group 2nd floor 7 ,787 .75 None N/A N/A 21 Perrymount Road Haywards Heath West sussex RH16 3TP

Malcolm Lea t/a Positive About Property 1 , 583 . 65 None N/A N/A 1 Lumley Street Mayfair London WiK 6TT

47 Thames Road Telephone 0845 Precision Printing 606 4001 14 , 173 .80 None N/A N/A Barking Fax 0845 606 4002 IG11 OHQ

Premierlnn 26e .50 None N/A N/A

Prestige Luxury Travel 271 Woodgrange Drive 1 98 .60 None N/A N/A Southend-On-Sea Essex SS1 25Q

Business Environment City Prime Acquisitions Limited 666.00 None N/A N/A Central Point 45 Beech Street London EC2Y 8AD

Principal International Principal House 11 ,000.90 None N/A N/A 6 Chertsey Road Woking Surrey GU21 5

Private Fly 275.92 None N/A N/A Privilege Business Insurance (Fleet) Fleet Department (3rd Floor) 337 .64 None N/A N/A The Wharf Neville Street Leeds LS1 4AZ

Projects in Financial Security Ltd Flat 30, Ashton Court 14 ,850 .00 None N/A N/A 46 Western Avenue Branksome Park Poole Dorset

PromoActive Harlequin House 1 ,020 .00 None N/A N/A 33 Forest Business Park Argall Avenue London E10 7FB

Property Jigsaw Intemational Ltd SRD 6 , 230 .00 None N/A N/A Wenta Business Centre Colne Way Watford WD24 7ND

Property Horizons Group Ltd Gloucester House 2 , 500 . 30 None N/A N/A 399 Silbury Boulevard Milton Keynes Buckinghamshire MK9 2AH

Property Growth International Ltd Dynamics House 999 . 60 None N/A N/A 81/83 Allerton Road Liverpool L18 2DA

Properties Abroad.com 22 Cannon Hill 45 ,600 .00 None N/A N/A Southgate London N14 6BY

Providential Investments Ltd Downs Court Business Centre 950 . 19 None N/A N/A The Downs Altrincham WA14 2QD

R & S Wealth Limited Tansterne Grange 9 ,450.00 None N/A N/A Tansterne Aldbrough HU11 4RD

Rachel Bassindale - Expense account 50 .76 None N/A N/A

Reed Exhibitions UK Gateway House 114 .00 None N/A N/A 28 The Quadrant Richmond Surrey TW9 1DN

Reed Specialist Recruitment Ltd 120 Coombe Lane 7,2oo.oo None N/A N/A London SW20 OBA

Regal Consultants Ltd The Granary 30,460.70 None N/A N/A Snodland Road West Malling Kent ME19 53F

Andy Regan - Expense Account 11.00 None N/A N/A N/A N/A Return on Capital Group Limited Grosvenor House 11 .700 .00 None 11 St Paul's Square Birmingham West Midlands B3 1RB

None N/A N/A Richard eafiam T/A Premiership Properties 1 . 100.60 3 Gamligay Road Potton Bedsa SG19 2RQ

None N/A N/A Roger Anthony Coleman Arlecdon House 650 .00 Arlecdon Frizington Cumbria CA26 3UW

N one N/A N/A Roger Nicholls 35 Marine Parade 19,950.00 Leigh-on-Sea Essex SS9 2NB

one N/A N/A Ron Pablo Group S.L Edificio Torremar 534 .39 N Avenida Alay 630 Benalmadena Costa Malaga SPAIN

T/a ROUNDSIDE PROPERTIES N/A N/A R Property Club LTD 4 ,078.11 N one 335 ORDNANCE ROAD ENFIELD LONDON EN3 6HE

N/A RPS Partners LLP 53 Oliver Road 3 ,503 . 90 None N/A Hemel Hempstead Herts HP2 9PZ

Salisbury Investment Properties 16 Salisbury Road 22 , 500 .00 None N/A N/A Harpenden Herts AL5 5AY

Sam Brookes Overseas Properties 99 Bridgewood 11 ,500 .00 None N/A N/A Worcester Park Surrey KT4 8XS

Scrimshaw Wealth Management 610 Old Gateford Road 23 ,500 .00 None N/A N/A Gateford Worksop Nottinghamshire S81 7SH

Sean Ghent 136 Gandalfs Ride 6,000.00 None N/A N/A South Woodham Ferrers Essex CM3 5W5

S E Commissiong -3 , 360 .22 None N/A N/A

Show Insurance Inc 19.91 None N/A N/A

Sidley Austin Woolgate Exchange 28 , 389 .04 None N/A N/A 25 Basinghall Street London EC2V 5HA N/A Simon Weir - Rhodes 60 Scottswood Road 750.00 None N/A Bushey Herts WD23 2DN

A N/A Simply Off Plan Ltd 20D Basepoint 4,400.40 None N/ Harts Farm Way Havant Hampshire P09 1HS

N/A SIPP-Able Limited The Grange Coach House 1,980 .00 None N/A Chew Hill Chew Magna Bristol BS40 8RY

SJT Global 23 Old Fold Lane 7 ,000 . 25 None N/A N/A Barnet Herts EN5 4QN

/A SNL Properties Limited 5 Clive Avenue 9 , 104.89 None N/A N Edmonton London N18 2RW

Sol Sistas la Gomshall Avenue 500 .40 None N/A N/A Wallington Surrey SM6 8NY

Sovereign Worldwide Property 51 High Ridge Park 9 ,800 . 20 None N/A N/A Rothwell Leeds LS26 ONL

Span i sh Property Services UK Pentrefoelas 2 ,334 . 00 None N/A N/A Betws-y-Coed North Wales LL24 OTA

Speed Ltd Pinewood Studios 96,666.74 None N/A N/A Pinewood Road Iver Heath Buckinghamshire SLO ONH

S.S Properties 23 Central Park Road 500 . 10 None N/A N/A East Ham London E6 3DZ

Star Loans & Finance Ltd 19 West Over Drive 1 , 350 .00 None N/A N/A Stone Staffordshire ST15 8TT

Stephen Scott-Lee 67 Candlemakers 4 ,832 . 85 None N/A N/A 112 York Road London SWll 3RS

Steve Dodds Associates Ltd 63 Churchill Road 15,300 .00 None N/A N/A Earls Barton Northampton NN6 OPQ

Steve Koffman & Associates 506 SW 1 , 157 .59 None N/A N/A 47th Terrace Cape Coral FL 33914

Steven Parker Expenses 227.40 None N/A N/A

Stirling Partners 106 Tring Road 2 ,896 .72 None N/A N/A Aylesbury Buckinghamshire H P20 1 L5

ST Legal Nashdom Abbey 21,291. 4e None N/A N/A Nashdom Lane Burnham Buckinghamshire SL1 8NJ

Successful Investor Ltd 3 Grenville Gardens 2,4 13.00 None N/A N/A Chichester West Sussex P019 8XB

Sunrise Technologies 26 Seax Court 121.90 None N/A N/A Southfieids Business Park Laindon Essex SS15 6SL

Sunset Overseas Ltd Redhill House 6,31 7 .22 None N/A N/A Hope Street Chester CH4 8BU

Suns plashhomes Ltd Daws House 1 ,666.50 None N/A N/A 33-35 Daws Lane London NW7 4SD

Mr G Swain 3 Buchanan Close 666.40 None N/A N/A London N21 1SG

SWS Security Systems Ltd 24 Page Road 372.00 None N/A N/A Bowers Gifford Basildon Essex SS13 2 HP

Mes sageLabs Ltd 1240 Lansdowne Court 3,571.20 None N/A N/A Gloucester Business Park Gloucester GL3 4AB

Tailortnade Alternative Investments TailorMade House 484 ,543.52 None N/A N/A Unit 1 Olympic Park Olympic Way Warrington, Cheshire WA2 OYL

Stewart Tait FlintCottage', Warrengate Lane 9,167.25 None N/A N/A South M imms Potters Bar Herts EN6 3N N

Taylor Langton Associates Ltd 2 Ho lywell Hil l 3,691.62 None N/A N/A St Albans Herts ALl 1 BZ

Simon Terry - Expense Account -500 .00 None N/A N/A Terry Quinn 2 Moorland Row 1 , 710 . 00 None N/A N/A Lisdoo Dundalk County Louth

The Mighty R Ltd 66 Paragon Place 1 ,080 .45 None N/A N/A Norwich Norfolk NR2 4BP

Thirty Nine Essex St 39 Essex Street 180 ,765 .00 None N/A N/A London WC2R 3AT

Thomas Lisle Interpretations Unit 16 111 , 209 . 00 None N/A N/A The Dove Centre 109 Bartholomew Road London NW5 26J

Thompson & Associates Limited 2 Cranford Hill House 10,990 .76 None N/A N/A Cranford Avenue Exmouth Devon EX8 2NY

The Intemational Property Partnership 3 Sandall Road 4 ,433 . 90 None N/A N/A Ealing London W5 1HZ

TopMarks Overseas Property Ltd 5 Lodsworth Close 8 , 500 . 00 None N/A N/A Waterlooville P08 OXW

Touchstone Property Network Ltd 417 Beckhampton Road 1 ,333 .80 None N/A N/A Bestwood Park Nottingham NG5 5PT

Travel Trendz 2 Woodland Avenue -96 , 547 .40 None N/A N/A Hornchurch Essex RM11 2QU

Tudor Wayne Morgan Ty-Ni 5 , 350 .00 None N/A N/A Castell Pigyn Road Carmarthen Dyfed SA31 233

Travel Weekly Group Ltd 3rd Floor 739 .20 None N/A N/A 52 Grosvenor Gardens London SW1W OAU

UKMS Investments Limited 500 Chiswick High Road 65, 2 13.68 N one N/A N/A London W4 SRG

Unique Investments Consultants LTD No.3, The Courtyard 4 ,097.64 None N/A N/A Holding Street Rainham, Kent ME8 7HE

Unlimited Opportunities Limited Kerswell Cottage 15,378 .84 N one N/A N/A Broadclyst Exeter EX5 3AF Victoria Chesterton 4D New High Street 933.66 None N/A N/A Headington Oxford Oxfordshire OX3 7AQ

View Investments Ltd Bank Chambers 1,499.60 N one N/A N/A 151-153 Holywood Road Belfast BT4 3BE

Viva Costa Intemational Mortgages Ltd The Office 32,350.73 N one N/A N/A Unit 1, George Reynolds Industrial Estate Shildon County Durham DL4 2RB

Walmsleys Commercial Insurance Brokers Ltd 17-21 Dicconson Street -902.04 N one N/A N/A Wigan WN1 1R6

Waterfront Overseas Ltd Marine Cottage 50,813.17 N one N/A N/A 53 Marine Parade East Lee on the Solent Hampshire P013 9BW

Watts Property Investments Ltd 11 Marine Avenue 4 ,667 . 55 None N/A N/A Hove East Sussex BN3 4LH

Wembley National Stadium Ltd Club Wembley Finance 41 , 806 . 19 None N/A N/A PO Box 1966 London SW1P 9EQ

Western Developments Europe (55) Ltd Sunnyside Studio 4 ,757 .91 None N/A N/A Thames View Langdon Hills SS16 5LN

Weston Property Uk Ltd 66 Byron Street 3,500 . 55 None N/A N/A Hove East Sussex BN3 5BB

J Rudd FAO/ R & R Solutions 38 , 198 . 80 None N/A N/A Hartsbrook Loves Green Highwood Chelmsford

Wildy & Sons Ltd Lincolns Inn Archway 72 . 98 None N/A N/A Carey Street London WC2A 23D

Win Investing LLP The Media Village 2 ,499 . 75 None N/A N/A 131 - 151 Great Titchfield Street London W1W 5BB

W International Management Ltd 5 Templar Street 1 ,667.25 None N/A N/A London SE5 93B

Woodlands Project Management Services Ltd Elmwood House 113,394 . 27 None N/A N/A Abbey Lane Amesbury Salisbury SP4 7AY

World Travel Events Ltd Momentum House 2 , 173.20 None N/A N/A Lower Road Waterloo London SE1 8S3

World Property Investor Ltd 8 Victoria Drive 7. 160.91 None N/A N/A Great Wakering Essex SS3 OAT

The Worldwide Property Group Suite A & B, The Courtyard 76,660.77 None N/A N/A Lombard Street Abingdon, Oxfordshire OX14 5SE

Xerox UK Ltd PO Box 922 .08 None N/A N/A Worthing West Sussex BN13 1QG

Yellow Jersey 155 Walsingham Gardens 25,925 .50 None N/A N/A Stoneleigh Surrey KT19 ONB

Youngson Properties Ltd Homelands Office Suite 1 7,101. 42 None N/A N/A 10 Golfview Road Bieldside Aberdeen AB15 9DQ

The YRD Limited 7 Bargate Close 5 , 530 . 00 None N/A N/A New Malden Surrey KT3 6BG

4 ,287 ,455 . 58 COMPANY SHAREHOLDERS .

Name of shareholder Address (with postcoc3e) No. of Nominal Details of shares held shares held value l3^..v.EiC3 ftt-1..^ oa,D , '6 tto H^t_t_ . Ah^S ^7 0 c,t.cr-ocD, F-SS C;K'. SSIt -IP t3 l +.l Op O k.D 3 rj te--)( 3t,.v^ ^REL^. w o oa ^ a^OCk ^tL- ^ CARoL A'M ES PB ^ o0 I-- b ccU 0 a-D Q LIN'C, IP o r-b CS3"t -rA C'^^^ 3 DprN"F-,- A+-^ES Ro^A, Dow^.^rn cMr, tt_+^l t o 0 tvQG oe-a^Nta^y' ^1f^K-^ M 6fit- , c^ r-tt^n1^ ^^'t`+-h^t-J L-i a c5 ^So ^+^ P^ n,c e'^.t.'i 'tzc^ a-o tvkCo"- A. KF^i 4^„{Z v.)Pr+vO^.-'2.^ tv4 ^ 1N .'^Pr.J^.t A= C^.30^ i A o L-t o m

. . ^ . ^- .

TOTALS I M0 O 6 % ooo

Signature: Date: ^5^6^ (-*) Appendix 3 ship le y s -LLP) Chartered Accou ntants & Professi onal Busi ness Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Joint Administrators ' Receipts & Payment Account Harlequin Management Services (South East) Limited (In Administration) Joint Administrators' Abstract of Receipts & Payments

Statement From 03/05/2013 From 03/05/2013 of Affairs To 26/06/2013 To 26/06/2013

ASSET REALISATIONS Freehold Land & Property 200 , 000 . 00 200, 000. 00 7,500.00 Computer Equipment/Furniture & Fixtu NIL NIL NIL Book Debts NI L NIL 1,195.00 Cash at Bank 2 , 506 . 93 2 , 506 . 93 Voluntary Payments 10 , 000 . 00 10 , 000 . 00 Uncertain Due from Related Parties NIL NIL Refund of Jeffries Solicitors client acc 67.74 67.74 212 , 574 . 67 212 , 574 . 67

COST OF REALISATIONS IT Specialist Agent 1 , 382 .48 1,382.48 ( 1 , 382 .48) (1,382.48)

PREFERENTIAL CREDITORS (5,761.00) RPO/Employee Arrears/Hol Pay N I L NIL N IL NIL

UNSECURED CREDITORS (4,287,456.00) Trade & Expense Creditors NIL NIL (236,341.00) HMRC - PAYE/NIC NIL NIL (1,358.00) Student Loans NIL NIL (1,000,000.00) Commission to Sales Staff NIL NIL (83,603,696.00) Due to Related Parties NIL NIL NIL NIL

DISTRIBUTIONS (1,000.00) Ordinary Shareholders NIL NIL NIL NIL

(89, 126 ,917 .00 ) 211 , 192. 19 2 11 , 1 92. 19

REPRESENTED BY VAT Receivable 276.50 Bank 1 Current 210,915.69

211 , 192. 19

,Ofhony Davidson Joint Administrator Appendix 4 bIpJy Cha rtered Accountants & Professiqnal B usiness Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Joint Administrators' Pre Appointment Time Cost Summary Case - Harlequ in Management Services (South East) Limited

Adminishators' time costs for the period 10/04/2013 to 02/05/2013 SCHEDULEI

Administration and Planning Case Planning 61 . 00 £28 , 360 . 00 0 .00 £486 . 72 0. 00 £0. 00 0. 00 3. 08 £28, 846. Administrative Set Up 0. 00 £0. 00 0_00 £1 , 170 . 00 0. 00 £0. 00 1 . 25 6.25 £1 , 302 . Appointment notification 0. 00 £0. 00 0 .00 £196 . 56 0 . 00 £0. 00 0. 25 1 . 09 £223 . Maintenance of Records 0. 00 £0. 00 0 .00 £1 , 373 . 58 0. 00 £0. 00 0. 30 6. 17 £1 , 407 . Statutory Reporting 0. 00 £0. 00 0 . 00 £0. 00 0. 00 £0. 00 0. 00

Rea liaatlon of Assets Identifying, Securing, Insuring 0.00 £0. 00 0.00 0. £0. 00 0. 00 £0. 00 0. 00 Retention of Title 0.00 £0. 00 0.00 £0. 00 0. 00 £0. 00 0. 00 Debt Collection 0.00 £0. 00 0. 00 £0. 00 0 . 00 £0. 00 0. 00 Sales-property, business &assets £58 . 50 0. 00 £0. 00 0. 00

Creditors Creditors - Communication with £678 .60 0 . 00 £0. 00 0. 00 2. 90 £678 Creditors Claims £0. 00 0 . 00 £0. 00 0. 00 0. 00 £0

Investig ations SIP2 Review 0. 00 £0. 00 0. 00 £0. 00 0. 00 0. 00 £0 CDDA Reporting 0. 00 £0. 00 0. 00 £0. 00 0. 00 0. 00 £0 Antecedent Transactions £0. 00 0. 00 £0. 00 0. 00 £0. 00 000 0. 00 £0

Trading Management of Operations £0. 00 0. 00 £0. 00 0. 00 £0. 00 0. 00 0. 00 £0 Accounting for Trading £0. 00 £0. 00 0. 00 £0. 00 0. 00 0. 00 £0 Ongoing Employees £0. 00 E117 . 00 0. 00 £0. 00 0. 00 0. 00 £117

Statement of Affairs Statement of Affairs 0.00 £0 . 00 2.00I £480.00I 0.00 0.00 £0. 00 0. 00 £0. 00 0. 00 2 . 00 £480

61 .00 2.00 £480. 00 0. 0( 17.44 E4,080.96 0.00 £0.00 1.80 Average hourly charge out rate £464.92 £240.00 £0.00 £234.00 #DIV/0! E107. 17

Tota l Hours 82. 24 Total Cost £33,113.86 Average £ 402.65 Appendix 5

b1PJQYs ^LP Cha rtered Accountants & Professional Busi ness Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Joint Administrators ' Post Appointment Time Cost Summary Case - Harlequin Management Services (South East) Limited

Administrators ' time costs for the period 0310512013 to 26/06/2013 SCHEDULE2

Partner Mana er AssisWntMana er SeniorAdministretor Administrator AssisWnt Total Time Cost Time Cost Time Cost Time Cost Time Cost Time Cost Time Cost Administration and Planning Case Planning 5 . 50 £2, 557 .50 2 . 80 £7 1 2 .70 0.00 £0.00 0.00 £0.00 8.00 £953 .00 0.00 £0 .00 1 6.30 £4 ,223 20 Administrative Set Up 0 .00 £0.00 0 .00 £0 .00 0.00 £0.00 1.1 6 £27 1 .44 0.00 £0 .00 0.75 £79.50 1 .91 £350.94 AppointrneMnotification 2.50 £ 1,237.50 0 .00 £0 .00 0.00 £0.00 3.55 £830. 70 0.00 £0.00 2 .50 £265.00 8.55 £2,333. 20 Maintenance of Record s 0.50 £247.50 0 .25 £60 .00 0.00 £0.00 1 8.1 4 £4,244 .76 0.30 £54 .30 3.07 £335.95 22.26 £4 ,942 .51 Statutory Reporting 0 .00 £0.00 7. 00 £1 ,680 .00 0.00 £0.00 4 .50 £1 ,053.00 0.00 £0.00 0.00 £0.00 1 1.50 £2,733 .00 Realisation of Assets Identifying , Securing, Insuring 20 .00 £9,525.00 0 .00 £0.00 0.00 £0.00 6 .00 £ 1,404 .00 0 .00 £0.00 0.00 £0 .00 26.00 £ 1 0,929.00 Retention of Title 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 f0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 Debt Collection 2.00 £930.00 0 .00 £0. 00 0.00 £0.00 1 .07 £250.38 0.00 £0 .00 0.00 £0.00 3.07 £ 1,1 80.38 Salesproperly, business 8assets 7.00 £3,255.00 1 .00 £240.00 0.00 £0.00 0.50 £117.00 0.15 £27. 1 5 0.00 £0.00 8 .65 £3,639 .15 C red itors Creditors - Communicationwith 2 .50 £1 ,162 .50 0.90 £243.60 0.00 £0.00 28.74 £6,725. 1 6 9.70 £1 ,755. 70 2 .50 £265.00 44.34 £10, 1 51 .96 Creditors Claims 1 2.25 £5,876. 25 26.25 £6 ,300 .00 0.00 £0 .00 7.1 8 £ 7 ,680. 1 2 0. 10 £18 .1 0 0.00 £0 .00 45.78 £1 3,874 .47 Investigations SIP2 Review 0.00 £0.00 0.00 £0.00 0.00 £0.00 1.25 £292.50 0.00 £0.00 0.00 £0.00 1.25 £292.50 CDDA Reporting 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 Antecedent Transactions 28 .00 £13,020.00 0.50 £1 54.50 0 .00 £0.00 5.72 £1,338 .48 0.00 £0.00 0.00 £0.00 34.22 £ 14,512.98 Trad ing Management of Operations 0 .00 £0.00 0.00 £0. 00 0.00 £0.00 0 .00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 Accounting for Trading 0.00 £0.00 0. 00 £0. 00 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0. 00 Ongoing Employees 0 .00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00 3 . 50 £633 .50 0.00 £0.00 3.50 £633 .50 Tax Tax 0.00 £0 .00 0 .00 £0.00 0.00 £0 .00 0. 00 £0.00 0.00 £0.00 0.00 £0.00 0.00 £0.00

80 .25 £37 ,811 .25 38.70 £9 ,390 .80 0 .00 £0 .00 77 .81 £18,207.54 21 .75 £3,441 .75 8 .82 £945.45 Average hourly charge rate out £4 7 1 . 1 7 £242 . 66 £0.00 £234 .00 £ 158.24 £1 07. 1 9

Total Hours 227 ,33 Total Cost £69,796.79 Average £307.03 Appendix 6 S LLP biPJQY Chartered Accountants & Professional Business Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

A Creditor's Guide to Administrator's Fees and Shipleys' Guide to Fees A CREDITORS ' GUIDE TO ADM I NISTRATORS ' FEES

ENGLAND AND WALES

Introduction

1 . 1 When a company goes into administration the costs of the proceedings are paid out of its assets . The creditors , who hope eventually to recover some of their debts out of the assets , therefore have a direct interest in the level of costs , and in particular the remuneration of the insolvency practitioner appointed to act as administrator. The insolvency legislation recognises this interest by providing mechanisms for creditors to determine the basis of the administrator's fees . This guide is intended to help creditors be aware of their rights under the legislation to approve and monitor fees , explains the basis on which fees are fixed and how creditors can seek information about expenses incurred by the administrator and challenge those they consider to be excessive..

2 The nature of administration

2 . 1 Administration is a procedure which places a company under the control of an insolvency practitioner and the protection of the court with the following objective :

• rescuing the company as a going concern, or • achieving a better result for the creditors as a whole than would be likely if the company were wound up without first being in administration,

or, if the administrator thinks neither of these objectives is reasonabl y practicable

• realising property in order to make a distribution to secured or preferential creditors .

The creditors ' committee

3 . 1 The creditors have the right to appoint a committee with a minimum of 3 and a maximum of 5 members . One of the functions of the committee is to determine the basis of the administrator's remuneration . The committee is normally established at the meeting of creditors which the administrator is required to hold within a maximum of 10 weeks from the beginning of the administration to consider his p roposals . The administrator must call the first meeting of the committee within 6 weeks of its establishment , and subsequent meetings must be held either at specified dates agreed by the committee , or when a member of the committee asks for one, or when the administrator decides he needs to hold one . The committee has power to summon the administrator to attend before it and provide information about the exercise of his functions .

Fixing the adm i nistrator's remuneration

4 . 1 The basis for fixing the administrator ' s remuneration is set out in Rule 2 . 106 of the Insolvency Rules 1986 , which states that it shall be fixed :

• as a percentage of the value of the property which the administrator has to deal with, • by reference to the time properly given by the administrator and his staff in attending to matters arising in the administration, or • as a set amount. Any comb i nation of these bases may be used to fix the remuneration , and different bases may be used for different things done by the administrator . Where the remuneration is fixed as a percentage , di fferent percentages may be used for different things done by the adm inistrator .

It is fo r the creditors ' committee (if there is one) to dete rm ine on wh i ch of these bases , or combination of bases , the remuneration is to be fixed . Where it is fixed as a percentage , it i s for the committee to dete rmine the percentage or percentages to be appl ied , and where it i s a set amount, to determine that amount . Ru le 2 . 106 says that in arrivi ng at its decis i on the comm ittee shall have regard to the foll owing matters :

• the complexity (or otherwise) of the case; • any responsibility of an exceptional kind or degree which falls on the administrator ; • the effectiveness with which the adm i nistrator appea rs to be carrying out, or to have carried out, his duties ; • the value and nature of the property which the administrator has to deal with .

4 . 2 If there is no creditors ' committee , or the committee does not make the requisite determination (and provided the circumstances described in paragraph 4. 3 do not apply) , the administrator' s remuneration may be fixed by a resol ution of a meeting of creditors havi ng regard to the same matters as apply in the case of the comm ittee . If the remuneration is not fixed in any of these ways , it will be fixed by the court on application by the administrator , but the administrator may not make such an application unless he has first tried to get his remuneration fixed by the committee or creditors as described above, and in any case not later than 18 months after his appointment .

4 . 3 There are special rules about creditors ' resolutions in cases where the administrator has stated in his proposals that the company has insufficient property to enable a distribution to be made to unsecured creditors except out of the reserved fund which may have to be set aside out of floating charge assets .

In this case , if there is no creditors ' comm ittee, or the committee does not make the requisite dete rmination , the remuneration may be fixed by the approval of -

• each secured creditor of the company ; or

• if the administrator has made or intends to make a distri buti on to prefe rential creditors -

- each secured creditor of the company ; and - preferential creditors whose debts amount to more than 50% of the preferential debts of the company , disregarding debts of any cred itor who does not respond to an invitation to g ive or withhol d approval,

havi ng regard to th e sam e m atters as the com m ittee wou ld .

Note that there is no requirement to hold a cred itors ' meeti ng i n such cases unless a meeting i s requisitioned by creditors whose debts amount to at least 10 per cent of the total debts of the company .

4 . 4 A resolution of creditors may be obtained by correspondence .

5. Review of remuneration

5 . 1 Where the re has been a material and substantial change in ci rcumstances since the basis of the administrator ' s remuneration was fixed , the administrato r may request that it be changed . The request must be made to the same body as initially approved the remuneration , and the same rules apply as to the original approval .

6. Approval of pre-administration costs

6 . 1 Sometimes the administrator may need to seek approval for the payment of costs in connection with preparatory work incurred before the company went i nto administration but which remain unpaid . Such costs may relate to work done either by the administrator or by another insolvency practitioner . Disclosure of such costs must be included in the administrator ' s proposals and should follow the principles and standards set out in section 7 .

6 . 2 Where there is a creditors ' comm ittee , it is for the comm ittee to determine whethe r, and to what extent, such costs should be approved for payment. If there is no committee or the committee does not make the necessary determ i nation , or if it does but the adm i nistrator, or other insolvency practitioner who has i ncurred pre- adm i n istration costs , cons iders the amount ag reed to be insufficient, approval may be given by a meeting of cred itors . Where the ci rcumstances described in paragraph 4. 3 apply , the determ i nation m ay be made by the same cred itors as approve the administrator' s remuneration .

6 . 3 The administrator must convene a meting of the committee or the creditors for the purposes of approving the payment of pre-adm i nistration costs if requested to do so by another insolvency practitioner who has incurred such costs . If there is no determination under these provisions , or if there is but the administrator or other insolvency practitioner considers the amount agreed to be insufficient , the administrator may apply to the court for a determination .

7 What information should be provided by the administrator?

7. 1 When fixing bases of remuneration

7 . 1 . 1 When seeking agreement for the basis or bases of remuneration , the administrator should provide sufficient supporting information to enab le the committee or the creditors to make an informed judgement as to whether the basis sought is appropriate having regard to all the ci rcumstances of the case . The nature and extent of the information provided will depend on the stage during the conduct of the case at which approval is being sought . The append ix to this guide sets out a suggested format for the provision of information .

7 . 1 . 2 If any part of the remuneration is sought on a time costs basis , the administrator should provide details of the minimum time units used and current charge-out rates , split by grades of staff, of those people who have been or who are likely to be involved in the time costs aspects of the case .

7 . 1 . 3 The administrator should also provide details and the cost of any work that has been or is intended to be sub-contracted out that could otherwise be carried out by the administrator or his or her staff.

7 . 1 . 4 If work has already been carried out, the administrator should state the proposed charge for the period to date and provide an explanation of what has been achieved in the period and how it was achieved , sufficient to enable the progress of the case to be assessed and whether the proposed charge is reasonable in the circumstances of the case. Where the proposed charge is calculated on a time costs basis , the administrator should disclose the time spent and the average charge-out rates , in larger cases split by grades of staff and analysed by appropriate activity . The administrator should also provide details and the cost of any work that has been sub- contracted out that could otherwise be carried out by the administrator or his or her staff. 7. 2 After the bases of remuneration have been fixed

The administrator is required to send progress reports to creditors at specified intervals (see paragraph 8. 1 below) . When reporting period i cal ly to creditors , in addition to the matters specified in paragraph 8 . 1 , the administrator should provide an explanation of what has been achieved in the period under review and how it was achieved , sufficient to enable the progress of the case to be assessed . Creditors should be able to understand whether the remuneration charged is reasonable in the circumstances of the case (whilst recognising that the administrator must fulfil certain statutory obligations and regul atory requ i rements that might be perceived as bring i ng no added value for the estate) . Where any remuneration is on a time costs basis , the administrator should disclose the charge in respect of the period , the time spent and the average charge-out rates , in larger cases split by grades of staff and analysed by appropriate activity. If there have been any changes to the charge-out rates during the period under review, rates should be d isclosed by grades of staff, split by the periods applicable . The administrator should also provide details and the cost of any work that has been sub-contracted out that could otherwise be carried out by the administrator or his or her staff.

7 . 3 Disbursements and other expenses

7 . 3 . 1 Costs met by and reimbursed to the administrator in connection with the administrat ion should be appropriate and reasonable . Such costs wi ll fall into two categories :

• Category 1 disbursements : These are costs where there i s specific expenditure directly referable both to the admin i stration and a payment to an independent third party . These may include , for example , advertising , room hire, storage , postage, te lephone charges , travel expenses , and eq uival ent costs re i mbursed to the adm i nistrator or his or her staff. • Category 2 di sbu rsements : These are costs that are directly refe rabl e to the adm i nistration but not to a payment to an independent third party . They may incl ude sha red or allocated costs that can be allocated to the adm i n i strati on on a proper and reasonable basis , for examp le , busi ness mileage . Category 1 disbursements can be d rawn without prior approva l, although the administrator should be prepa red to d i sclose information about them in the same way as any oth er expenses . Category 2 disbursements may be d rawn i f they have been approved in the same manner as the adm i n i strator' s remunerat ion . When seeking approval, the administrator shou ld explai n , for each category of expense , the basis on which the charge is being made .

7 . 3 . 2 The following are not permissible :

• a charge calcu lated as a percentage of remuneration ; • an adm i nistration fee or charge additional to the admini strator' s remune ration ; • recovery of basic overhead costs such as office and equipment rental , depreciation and finance cha rges .

Progress reports and requests for further Information

8 . 1 The administrator is required to send a progress report to cred itors at 6-monthly intervals . The report must include:

• details of the basis fixed for the remuneration of the adm i nistrator (or if not fixed at the date of the report , the steps taken du ring the period of the report to fix it); • if the basis has been fixed , the remuneration charged during the period of the report, i rrespective of whether it was actually paid during that period (except where it is fixed as a set amount, in which case it may be shown as that amount without any apportionment for the period of the report) ; • if the report is the first to be made after the basis has been fixed , the remuneration charged during the periods covered by the previous reports , together with a description of the work done during those periods , irrespective of whether payment was actually made during the period of the report ; • a statement of the expenses incurred by the administrator during the period of the report , irrespective of whether payment was actually made during that period ; • the date of approval of any pre-administration costs and the amount approved ; • a statement of the cred itors' rights to request further information , as explained in paragraph 8 . 2 , and thei r right to challenge the administrator's remunerati on and expenses .

8.2 Within 21 days of receipt of a progress report a creditor may request the administrator to provide further information about the remuneration and expenses (other than pre- administration costs) set out in the report. A request must be in writing, and may be made either by a secured creditor, or by an unsecured creditor with the concurrence of at least 5% in value of unsecured creditors (including himself) or the permission of the court.

8 . 3 The admini strator must provide the requested i nformati on within 14 days , unless he considers that:

• the time and cost i nvolved in preparing the information would be excessive , or • disclosure would be prejudicial to the conduct of the adm i nistration or m i ght be ex pected to lead to violence against any person , or • the admin istrator i s subj ect to an obligation of confi denti ality in relation to the i nformation requested ,

in which case he must give the reasons for not providing the information .

Any creditor may apply to the court within 21 days of the administrator's refusal to provide the requested information, or the expiry of the 14 days time limit for the provision of the information.

9. Provision of i nformation - additi onal requirements

The admini strator must p rovide certain i nformat ion about time spent on a case, free of charge , upon request by any creditor, director or shareholder of the company .

The information which must be provided is -

the total number of hours spent on the case by the administrator or staff assigned to the case ; for each grade of staff, the average hourly rate at which they are charged out; the number of hours spent by each grade of staff in the relevant period .

The period for which the information must be provided i s the period from appoi ntment to the end of the most recent period of six months reckoned from the date of the administrator ' s appointment , or where he has vacated office , the date that he vacated office.

The information must be provided within 28 days of receipt of the request by the administrator , and requests must be made within two years from vacation of office . 10 What if a creditor is dissatisfied?

101 If a creditor believes that the administrator's remuneration is too high, the basis is inappropriate, or the expenses incurred by the administrator are in all the circumstances excessive he may, provided certain conditions are met, apply to the court.

10. 2 Application may be made to the court by any secured creditor , or by any unsecured creditor provided at least 10 per cent in value of unsecured creditors (including himself) agree , or he has the permission of the court. Any such application must be made within 8 weeks of the applicant receiving the administrator' s progress report in which the charging of the remuneration or incurring of the expenses in question is first reported (see paragraph 8 . 1 above) . If the court does not dismiss the application (wh i ch it may if it considers that i nsufficient cause is shown) the applicant must give the adm i nistrator a copy of the application and supporting evidence at least 14 days before the hearing .

10 . 3 If the court considers the application well founded , it may order that the remuneration be reduced , the basis be changed , or the expenses be disal lowed or repaid . Unless the court orders otherw i se , the costs of the applicati on must be paid by the applicant and not as an expense of the administration .

11 What if the administrator is dissatisfied?

11 . 1 If the admini strator considers that the remuneration fixed by the creditors ' committee is insufficient or that the basis used to fix it is inappropriate he may request that the amount or rate be increased , or the basis changed , by resolution of the creditors . If he considers that the remuneration fixed by the comm ittee or the cred itors is insufficient or that the basis used to fix it is inappropriate , he may apply to the court for the amount or rate to be increased or the basis changed . If he deci des to apply to the court he must give at least 14 days' notice to the members of the creditors ' committee and the committee may nom i nate one or more of its members to appea r or be represented on the applicati on . If there is no committee , the administrator ' s noti ce of h is application must be sent to such of the company' s creditors as the court may direct, and they may nominate one or more of their number to appear o r be represented . The court may order the costs to be paid as an expense of the administration .

12 Other matters relating to remuneration

12.1 Where there are joint administrators it is for them to agree between themselves how the remuneration payable should be apportioned. Any dispute arising between them may be referred to the court, the creditors' committee or a meeting of creditors.

12.2 If the administrator is a solicitor and employs his own firm to act on behalf of the company, profit costs may not be paid unless authorised by the creditors' committee, the creditors or the court.

12.3 If a new administrator is appointed in place of another, any determination, resolution or court order which was in effect immediately before the replacement continues to have effect in relation to the remuneration of the new administrator until a further determination, resolution or court order is made.

12.4 Where the basis of the remuneration is a set amount, and the administrator ceases to act before the time has elapsed or the work has been completed for which the amount was set, application may be made for a determination of the amount that should be paid to the outgoing administrator. The application must be made to the same body as approved the remuneration. Where the outgoing administrator and the incoming administrator are from the same firm, they will usually agree the apportionment between them. 13. Effective date

This guide applies where a company enters administration on or after 1 November 2011 . Appendix

Suggested format for the provision of information

Professional guidance issued to insolvency practitioners sets out the following suggested format for the provision of information when seeking approval of remuneration. However, the level of disclosure suggested below may not be appropriate in all cases, and will be subject to considerations of proportionality. In larger or more complex cases the circumstances of each case may dictate the information provided and its format.

Narrative overvi ew of the case

In all cases, reports on remuneration should provide a narrative overview of the case. Matters relevant to an overview are: • the complexity of the case; • any exceptional responsibility falling on the administrator; • the administrator's effectiveness; • the value and nature of the property in question. The information provided will depend upon the basis or bases being sought or reported upon , and the stage at which it is be i ng provided . An ove rview might incl ude : • an explanati on of the nature , and the administrator' s own initial assessment , of the ass ignment (incl ud ing the antici pated retu rn to creditors) and the outcome (if known); • initial views on how the assignment was to be handled , including decis ions on staffing o r subcontracting and the appointment of advisers ; • a ny sign ificant aspects of the case, particul arly those that affect the remu n eratio n and cost expended ; • the reasons for subsequent changes in strategy ; • the steps taken to establish the vi ews of creditors , particularly i n rel ation to agree i ng the strategy for the assignment , budgeting , and fee drawing ; • any existing agreement about remuneration ; • details of how other profess i onal s , including subcontractors , were chosen , how they were contracted to be pai d , and what steps have been taken to review thei r fees ; • in a larger case , particular ly if it involved trading , considerations about staffing and manag i ng the ass ignment and how strategy was set an d revi ewed; • details of work undertaken during the period ; • any add itional value brought to the estate during the period , for which the administrator wishes to claim increased remuneration .

Time cost basis Where any part of the remuneration i s or is proposed to be ca lcul ated on a time costs bas i s , requests for a nd repo rts on rem uneration should provide: • An explanation of the adm inistrator' s ti m e charg i ng policy , clea rly stating the units of ti me that have been used , the grades of staff and rates that have been charged to the assignment, and the policy for recovering the cost of support staff. There is an expectation that time will be recorded in units of not greater than 6 minutes . • A description of work carried out, which might include : - details of work undertaken during the period , related to the table of time spent for the period ; - an explanati on of the grades of staff used to undertake the different tasks carri ed out and the reasons why it was approp riate for those g rades to be used ; - any comments on any figures in the summary of time spent accompanyi ng the request the administrator wishes to make . • Ti me spent and charge-o ut s ummari es , in an appropri ate form at . It is useful to provide time spent and charge-out value information in a tabular form for each of the time periods reported upon, with work classified (and sub-divided) in a way relevant to the circumstances of the case

The following areas of activity are suggested as a basis for the analysis of time spent:

• Administration and planning • Investigations • Realisation of assets • Trading • Creditors • Any other case-specific matters

The following categories are suggested as a basis for analysis by grade of staff:

• Partner • Manager • Other senior professionals • Assistants and support staff

The level of disclosure suggested above will not be appropriate in all cases, and considerations of proportionality will apply:

where cumulative time costs are , and are expected to be, less than £10, 000 the administrato r should , as a mini mum , state the number of hours and average rate per hour and explain any unusual features of the case ; where cumulative time costs are , or are expected to be, between £10, 000 and £50 , 000, a time and charge-out summary similar to that shown above will usually provide the appropriate level of detail (subject to the explanation of any unusual features) ; where cumulative time costs exceed , or are expected to exceed , £50 , 000 , further and more detailed analysis or explanation will be warranted . Shipleys LLP 10 Orange Street, Haymarket, London WC2H 7DQ

CREDITORS ' GUIDE TO FEES EFFECTIVE FROM I MAY 2013 CHARGE-OUT RATES

Staff Allocation and Support Staff

An objective and practical approach is taken to each case which incl udes active Principal involvement from the outset . Other members of staff wi ll be assigned on the basis of experience and specific ski lls to match the needs of the case . Set out below are the relevant charge-out rates per hour worked for the grades of all staff. Time is charged by reference to actual work carried out on each assignment . There has been no al location of any general or overhead costs.

Charge-out rate (£ per hour) Grade plus VAT where appli cable Princi pal* 465 - 495 Manager 240 - 325 Assistant Manager 230 - 240 Sen ior Adm i n istrator 220 - 235 Admin istrator 125 - 185 Assistant & Cashier 110 - 260 * or equivalent

NB : Ti me costs are ca lculated at 6 m i nute un its

The time of support staff is not charged to a case except when the i nitial set up is being performed and appointment documentation is prepared . Support staff will also occasi onally charge their time when perform i ng a sizeable adm i nistrat ive task within the case . Support staff charge their time at the £110/hr Assistant rate shown on the preced i ng table .

Special ist departments with the firm such as Tax and VAT may someti mes charge their ti me if and when the Office Holders may require thei r expert advice . The figures below provide details of the charge-out rates per hour worked for typ i cal staff invo lved in this way .

Charge-out rate (£ per hour) Grade plus VAT where applicable Tax Principal* 300-400 Tax Manager 250 Tax Practitioner 200 Tax Assistant 145 DISBURSEMENTS

Category 1 Disbursements

These are costs where there is specific expenditure d i rectly referable both to the appointment in questi on and a payment to an independent third party . Examples of equiva lent costs that may be reimbursed to the offi ce holders without uplift and do not require prior approval are g iven below:

Category Basis of Charge Indemnity Bond At cost of mandatory cover required in accordance with the Insolvency Act 1986 for each a ppointment Insurance of assets At cost in relation to asset coverag e req uirements Com an searches At cost incurred Travel All forms other than mileag e at actual cost Room Hire All external venues at actual cost Stationery At cost incurred Storage Charge at actual cost incurred for storage (and retrieval, when a ro riate of records. Other At actual cost charg ed

Category 2 Disbursements

These are costs that are directly referable to the appointment in questi on but not to an independent third party . They may incl ude shared or allocated costs that can be allocated to the appointment on a proper and reasonable basis . In the event of charging for Category 2 disbursements the followi ng items of expend iture are recharged on the basis specified :

Category Basis of Charge Business Mileag e Motor vehicle at 40p per mile Internal Room Hire Held at Shipleys LLP, 10 Orange Street, Haymarket, London WC2H 7DQ: £50 Photoco in Specific calculation of 25 pence per sheet x number of creditors Facsimiles £1 for 1S page and 10 pence for each additional pag e

Subcontractors

Details and the cost of any work wh ich has been or i s intended to be sub-contracted out that could otherwise by carried out by the office holder or his staff will be provided i n any report which incorporates a request for approval of the basis upon which remuneration may be charged .

Professional Advisors

Details of any professional advisor(s) used will be given in reports to creditors. Unless otherwise indicated the fee arrangement for each is based on hourly charge out rates, which are reviewed on a regular basis , together with the recovery or relevant disbursements. The choice of professional advisors is based around a number of factors including, but not restricted to, their expertise in a particular field, the complexity or otherwise of the assignment and their geographic location. Appendix 7 ship 1e y s -,-,-,) Chartered Acco u ntants & Professional Business Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Form 2. 206 - Notice of a Meeting of Creditors Rule 2 .35 Form 2 .20B

Notice of a meeting of creditors

Name of Company Company number Harlequin Management Services (South East) Limited 4205220 - In Administration

In the Court case number High Court of Justice, Chancery Divi sion, London 2989 of 2013 [full name of court]

(a) Insert full name(s) and address(es) of the Notice is hereby given by (a) Anthony Peter Davidson & Stephen Blandford Ryman, both of Shipleys LLP, administrator(s) 10 Orange Street, Haymarket, London WC2H 7DQ

that a meeting of the creditors of (b) Harlequin Management Services (South East) Limited (In (b) Insert full name and address of registered office Administration) C/o of Shipleys LLP, 10 Orange Street, Haymarket, London, WC2H 7DQ of the company

(c) Earls Court Conference Centre, Warwick Road, London SW5 9TA (c) Insert details of place of meeting

on (d) 12th July 2013 at 11 .00 a. m. (d) Insert date and time of meeting

The meeting is :

*Delete as applicable *(1) an initial creditors ' meeting under Paragraph S lof Schedule B 1 to the Insolvency Act 1986 ("the Schedule");

I invite you to attend the above meeting.

A Proxy Fo is enclosed which should be completed and returned to me by no later than 12 . 00 hours on the bus iness befo the a fixed for the meetin ' ou cannot attend and wish to be represented .

In order to be titl vot under Rul . 38 the rt^eetingyou must give to me , not later than 12 . 00 hours on the i da be re the fixe or the m^ting, details in writing of your claim .

Signed Joint

Dated 2 (^/o

* Delete as applicable A copy of the *proposals / r-ovised pf;epese^s is attached Appendix 8 shi le ys -LLP) ChaRered Accountants & Professional B usiness Adv isers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Proof of Debt Form PROOF OF DEBT

In the High Court of Justice No 2989 of 2013

Harlequin Management Services (South East) Limited ( In Administration )

Date of Administration : 3rd May 2013

1 Name of creditor

2 Address of creditor

3 Total claim including VAT and interest as at the date of the Administration Order £

4 Details of documents by which debt can be substantiated . Copies must be attached unless previously submitted

5 If claim includes VAT , show

(a) Amount of VAT £

(b) Amount of claim Net of VAT £

6 Amount of any interest included in claim £

7 Is the whole or part of the debt preferential? Yes / No

If so , state amount , and details £

8 Particulars of how and when debt incurred

9 Particulars and value of any security held and the date it was given

10 Signature of creditor or other authorised person

Name in BLOCK LETTERS :

Telephone number:

Creditor's reference :

Date

11 Position or Relationship with Creditor For Use of Administrator Only

12 Admitted to vote for £

Date

Administrator

13 Admitted preferentially Admitted non-preferentially for £ for £

Date Date

Administrator Administrator Appendix 9 sh i leys -L LP) Chartered Accountants & Professio nal Busi ness Advisers

HARLEQUIN MANAGEMENT SERVICES (SOUTH EAST) LIMITED - IN ADMINISTRATION

Proxy Rule 8. 1 Insolvency Act 1986 Form 8 . 2 Proxy (Administration)

Harlequin M anagement Services (South East) Limited - In Administration

Name of Creditor

Address

Name of Proxy Holder Please insert name of person (who m ust be 1 8 or over) or the Chairman of th e Meeting . If you wish to provide for alternative proxy holde rs in the circu mstances that your 2 first choice is un ab le to atte nd please state the name (s) of the a lte rnatives as well

Please delete words in I appoint the above person to be my/the creditor' s proxy holder at the meeti ng of brackets if the proxy holder creditors is only to vote as directed to be held on Friday 12th July 2013 at 11 . 00 a . m ., or at any adjournment of i.e. he has no discretion that meeting . The proxy holder is to propose or vote as instructed below (and in respect of any resolution for which no specific instruction is given , may vote or abstain at h is/her discretion) .

Voting Instructions for resolutions

*Please de lete as For the acceptance appropriate /rejection* of the Joint Administrators' Proposals :

(a) Continue to manage the affairs of the Company and do all such things in order to achieve Objective 1 of the statutory purposes of the Administration ; (Accept/Reject)

(b) If appropriate the Joint Administrators will take all steps necessary to settle outstanding Administration costs and issue proposals with regards to a Company Voluntary Arrangement; (Accept/Reject)

(c) Should the Joint Administrators determine that a Company Voluntary Arrangement is not a viable prospect, then the Joint Administrators should take all steps necessary to settle outstanding Administration costs and place the Company into Liquidation; (Accept/Reject)

(d) If funds become available to allow a distribution to unsecured creditors, the Company will move to Creditors' Voluntary Liquidation in accordance with Paragraph 83 of Schedule B1 of the Insolvency Act 1986; (Accept/Reject)

(e) Should the Company enter Creditors Voluntary Liquidation then Anthony Davidson and Stephen Ryman of Shipleys LLP , 10 Orange Street, Haymarket, London WC2H 7DQ , be appointed Joint Liquidators of the Company for the purposes of such winding -up. Any act required to be taken by the Joint Liquidators can be undertaken by either one of them acting independently ; (Accept/Reject)

(f) Should there be insufficient assets to enable a distribution to unsecured creditors, to allow for further investigations to be conducted into the Company's affairs then the Joint Administrators will take all steps necessary to Petition for the Compulsory Liquidation of the Company; (Accept/Reject)

Softwa re S u pplied by Turnkey Comp uter Technology Limited, G lasg ow (g) Upon the appointment of Anthony Davidson and Stephen Ryman as Joint Administrators of the Company ceasing to have effect, they will be discharged from all liability in respect of any actions as Joint Administrators ; (Accept/Reject)

(h) The basis of the Joint Administrators ' Post Appoi ntment remuneration be considered and , if appropriate , agreed by either any Creditors ' committee appointed or by the Creditors at the Meeting , which is to be held on Friday 12th July 2013 or any subsequent Meeti ng convened for that purpose and in the event that a Creditors committee is not appointed , agreed by reference to the time spent by them and their staff in the conduct of the Administration in accordance with the Shipleys LLP " Creditors Guide to Fees"; and (Accept/Reject)

(i) The Joint Adm inistrators be authorised to draw all Post Appointment, as well as future disbursements (including those as categorised in the revised Statement of Insolvency Practice 9 , Category 2) , in accordance with the rates of charge as detailed in the Shipleys LLP "Creditors Guide to Fees". (Accept/Reject)

2. Creditors ' Committee

For the appointment of

of

representing

as a member of the creditors' committee.

Pre Appointment Costs

(a) The basis of the Joint Administrators' Pre Appointment cost of £33 , 113 . 86 be considered and , if appropriate , agreed by either any Creditors ' committee appointed or by the Creditors at the Meeting , which is to be held on Friday 12th July 2013 or any subsequent Meeting convened for that purpose and be settled in full from the funds held i n the Joint Administrators bank account; (Accept/Reject)

(b) The basis of Charles Russell LLP Pre Appointment cost of £9 , 918 . 50 be considered and , if appropriate , agreed by either any Creditors ' committee appointed or by the Creditors at the Meeting , which is to be held on Friday 12th July 2013 or any subsequent Meeting convened for that purpose and be settled in full from the funds held in the Joint Administrators bank account ; (Accept/Reject)

This form must be signed Signature Date

Name in CAPITAL LETTERS

O nly to be comp leted if th e Position with creditor or relationship to creditor or other authority for signature cred itor has not s ig ned in person

Remember: there may be resolutions on the other side of this form

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