Bruynzeel petition preceded Hasbridge Construction's CVA moratorium collapse

A winding-up petition filed by Bruynzeel Storage Systems on 4 December 2019 had already signalled the end for Hasbridge Construction Limited before the company's CVA moratorium formally closed in February 2020. The Gazette published the moratorium end notice on 6 February 2020. The company was registered at Unit 1 Napier House, Elva Way, Bexhill-on-Sea, TN39 5BF.

A CVA moratorium is a short statutory breathing space that pauses most creditor action while a company attempts to put a company voluntary arrangement in place. With a winding-up petition already lodged by the storage systems supplier, the moratorium had little realistic prospect of delivering a rescue.

Hasbridge Construction was incorporated on 10 June 2015 and carried out other specialised construction activities not elsewhere classified under SIC code 43999. Its last filed accounts covered the period to 30 June 2018.

The directors

The directors at the time of the moratorium notice were Stuart George Donovan, Shane Micheal King and Mark Alan Bryun Southgate. Donovan and Southgate had been directors since incorporation in June 2015, while King joined the board on 25 March 2019. Claire Angela Donovan and Ami Michelle O'Neill had both resigned on 18 April 2018.

What followed

Compulsory liquidation followed in March 2020, a court-ordered winding-up in which a judge directs that a company be wound up and its assets distributed to creditors. Andrew Watling, IP number 15910, and Simon Campbell, IP number 10150, both of Quantuma Advisory Limited of Office D, Beresford House, Town Quay, Southampton, SO14 2AQ, were appointed joint liquidators by creditors on 8 November 2021. Hasbridge Construction was eventually dissolved in 2025.

For creditors and suppliers

Once joint liquidators are appointed in a compulsory liquidation, creditors who have not already done so are invited to submit a proof of debt, the formal claim form used to evidence the amount owed to them. Claims are handled by the appointed liquidators, with correspondence directed through their firm.

The moratorium that preceded the liquidation paused most creditor enforcement action under paragraph 43 of Schedule B1 of the Insolvency Act 1986, but that protection ended when the moratorium closed in February 2020. From that point, the winding-up petition could proceed.

Trade suppliers and other unsecured creditors, those whose debts are not backed by a charge over company assets, rank behind any secured creditors and the costs of the insolvency process when assets are distributed. In a compulsory liquidation, employee claims for unpaid wages, notice pay and redundancy are handled under statutory rules, and the Redundancy Payments Service exists to meet certain employee entitlements where the company cannot.