C X Wealth Ltd (07861938): administration
- Status
- Administration ended
- Administration began
- 2024-05-16
- Administrators' firm
- Kroll
- Incorporated
- 2011-11-28
- Location
- London
- Industry
- 70221 Financial management
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my Proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company was incorporated on 28 November 2011, with Christopher Cauvain and Paula Santos Cauvain being appointed as the directors. The Company began trading in December 2011 from Mr Cauvain’s residence in London and originally traded as an unfunded business consulting firm using the directors’ existing contacts to advise on the structure of financial products in the property and pensions industries.
In 2018, the directors were approached by PTC to manage a loan portfolio. Shortly afterwards the Company obtained a loan from PTC in the amount of £18,227,637 with repayment terms of five years. A further £1,364,000 was borrowed from FTC in 2019 with repayment terms of three years. Both loans were obtained without providing security.
Administrators' statement of proposals (2024-07-15) · Companies House register