M8 Trading Ltd (09902749): administration
- Status
- In administration
- Administration began
- 2026-03-02
- Administrators
- Andrew Lawrence Hosking, Dean Watson
- Administrators' firm
- Begbies Traynor
- Formerly
- AWH Legal Ltd
- Incorporated
- 2015-12-04
- Location
- London
- Industry
- 69102 Solicitors
Why it went into administration
- Funding withdrawn / unable to refinance
- COVID-19
- Creditor pressure / legal action
- Regulatory change or action
From the administrators' statement
Although the Company encountered operating pressure during the 2021 to 2022 period - principally reflected in slower-than-projected WIP conversion and the Growth Lending arrears and subsequent settlement - the directors’ view is that the Company returned to a stable footing following the Growth Lending full-and-final settlement in May 2023 and the refinancing with | Quote Limited. The 2022 audited accounts were signed on a clean going-concern basis, and the 2023 audited accounts (signed in December 2024) did not carry any material going-concern uncertainty, having regard to the | Quote facility and the restructured cost base.
The event which triggered the Company's failure occurred in November 2025. From July 2025 onwards, the directors had been engaged in a series of meetings with the funder in the expectation of a further tranche of funding to support ongoing case progression. Throughout those discussions the directors had been given to understand that additional funding would be made available. In November 2025, the funder reversed that position and confirmed that no further funding would be forthcoming.
Over the period from November 2025 to January 2026, the directors actively sought replacement funding from the wider specialist litigation funding market. There was, however, limited appetite in that market at the time, and no alternative funder was able to transact within the timescale required to bridge the Company’s immediate working capital needs. In January 2026, the directors took formal insolvency advice - first from Quantuma and subsequently from BTG. The advice in each case was that, having regard to the withdrawal of funder support and the absence of a viable replacement within the required timescale, an Administration of the Company was the appropriate course of action.
Administrators' statement of proposals (2026-05-06) · Companies House register