Amicus Finance Limited (06994954): administration
- Status
- Administration ended
- Administration began
- 2018-12-20
- Administrators
- Jamie Taylor, Kirstie Jane Provan, Mark Robert Fry
- Administrators' firm
- Begbies Traynor
- Formerly
- Amicus Finance PLC; Amicus Finance Limited; Capital Bridging Finance Limited
- Incorporated
- 2009-08-19
- Location
- London
- Industry
- 64922 Activities of mortgage finance companies
From the administrators' statement
The Company was incorporated on 19 August 2009 to provide short term property loans under the name Capital Bridging Finance Limited (‘CBFL"). As the business matured it rebranded as Amicus Finance plc, continuing to provide short term property loans but using the brand name Amicus Property Finance. Most short term property lending was conducted from London, although the Company also opened an office in Manchester. The Company expanded its product offering to include SME Jending solutions under its subsidiaries Amicus Asset Finance Limited and Amicus Commercial Finance Limited and thereafter broadened its property lending proposition to include specialist commercial mortgages under the Amicus Commercial Mortgages brand.
With short term property lending remaining at its core, the Company evolved its funding strategy and set-up a master trust structure called the Amicus Mortgage Trust (“AMT”). The AMT facilitated the assignment of direct beneficial interest to varied Funders when loan sums were advanced through the AMT arrangement. AMT Funders primarily included a senior debt provider, an unrated Securitisation vehicle and a variety of third-party offshore fund vehicles. The Company also funded a small number of short term property loans directly. The asset finance and commercial finance subsidiaries primarily utilised senior debt facilities to fund their lending.
The Company primarily earned income from originating and servicing the Funders’ “assets under management” through the AMT structure, as well as from loans where the Company directly financed the debt and via the excess returned on the senior debt facility.
Administrators' statement of proposals (2019-02-27) · Companies House register