STYROPACK (UK) LIMITED

Company Number: SC041753

and

Richard Peter Simon Lee

And

John Colley

Section 216(3) of the Insolvency Act 1986 (the "Act") lists the activities that a director of a company that has gone into insolvent liquidation may not undertake unless the court gives permission or there is an exception in the Insolvency Rules made under the Act. (This includes the exceptions in Part 12 of the Insolvency (Scotland) (Receivership and Winding up) Rules 2018.) These activities are—

(a) acting as a director of another company that is known by a name which is either the same as a name used by the company in insolvent liquidation in the 12 months before it entered liquidation or is so similar as to suggest an association with that company;

(b)directly or indirectly being concerned or taking part in the promotion, formation or management of any such company; or

(c) directly or indirectly being concerned in the carrying on of a business otherwise than through a company under a name of the kind mentioned in (a) above.

(together "the Activities").

This notice is given under rule 12.4 of the Insolvency (Scotland) (Receivership and Winding up) Rules 2018 where the business of a company which is in, or may go into, insolvent liquidation is, or is to be, carried on otherwise than by the company in liquidation with the involvement of a director of that company and under the same or a similar name to that of that company.

The purpose of giving this notice is to permit the director to act in these circumstances where the company enters (or has entered) insolvent liquidation without the director committing a criminal offence and in the case of the carrying on of the business through another company, being personally liable for that company’s debts.

Notice may be given where the person giving the notice is already the director of a company which proposes to adopt a prohibited name.

It is the intention of Richard Peter Simon Lee of Unit A, Rudford Industrial Estate, Ford Road, Ford, Nr Arundel, BN18 0BD and John Colley, of Unit A, Rudford Industrial Estate, Ford Road, Ford, Nr Arundel, BN18 0BD (the "Directors") to act, or continue to act, in all or any of the ways specified in section 216(3) of the Act in connection 2403/12 2 with, or for the purposes of, the carrying on of the whole or substantially the whole of the business of Styropack (UK) Limited, a company incorporated in Scotland with registered number SC041753 and having its registered office at Craigshaw Road, West Tullos Industrial Estate, Aberdeen, Scotland, AB12 3AS (the "Insolvent Company").

It is the intention of the Directors:-

(i) to carry out the Activities in connection with Project Tower Bidco 2 Limited, a company incorporated in England and Wales with registered number 12644682 and having its registered office at Brierly Place, New London Road, Chelmsford, Essex, CM” 0AP; and

(ii) that Project Tower Bidco 2 Limited would carry on business using the trading names "Styropack" and "Styropack (UK)" (together the "Names").

Each of the Names is, would be, or may be, a prohibited name (within the meaning of section 216(2) of the Act) in respect of each of the Directors, in the event of the Insolvent Company entering insolvent liquidation.

The Directors would not be permitted to undertake the Activities without the leave of the court or the application of an exemption created by Rules made under the Act.

Breach of the prohibition created by section 216 of the Act is a criminal offence.

Matthew Robert Haw and Paul Dounis of RSM were appointed as administrators of the Insolvent Company (the "Administrators") on 15 June 2020. The Directors were directors of the Insolvent Company on that date.

On 15 June 2020, Project Tower Bidco 2 Limited acquired the whole, or substantially the whole, of the business of the Insolvent Company from the Insolvent Company under arrangements made by the Administrators acting as administrators of the Insolvent Company.