Sova Capital Limited (04621383): administration
- Status
- In administration
- Administration began
- 2022-03-03
- Administrators
- David Philip Soden, Ian Colin Wormleighton, Stephen Roland Browne
- Administrators' firm
- Teneo
- Formerly
- Otkritie Capital International Limited; Otkritie Securities Limited; ABC Clearing Limited
- Incorporated
- 2002-12-19
- Location
- Birmingham
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
Although the Company operates across the globe, its primary trading corridor is providing international investors access to the Russian market.
As a result of the war in Ukraine and the sanctions imposed certain on Russia and Russian assets, the Company experienced a severe and immediate liquidity crisis caused by, among other issues:
• A substantial reduction in funding from market counterparties.
Administrators' statement of proposals (2022-05-03) · Companies House register