Project Capital Partners

The remaining director of a local company to FTS appointed us as administrators following the uncovering of unregulated trading investor losses, thought to be in the sum of an estimated £40m of capital.

Although work to facilitate our rescue plan is ongoing, we hope to achieve this by assisting with fundraising for a £2bn bond asset, against which the company holds commission agreements with an estimated asset value of £100m.

Substantial investigations and work have been completed which will help to ensure that the position of wider creditors is protected.

This includes the successful pursuit of waivers from shareholders, which effectively protects realisations for the benefit of creditors. This isn’t just in the process we’ve been instructed to work on, it also applies for any wider creditors holding related (but not direct) contractual debts.