# Stenn Assets UK Ltd (09964011)

> Why UK company 09964011 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09964011

- **Status:** In administration
- **Administration began:** 2024-12-04
- **Administrators:** James Robert Tucker, Joshua James Dwyer, Kristina Kicks
- **Administrators' firm:** Interpath Advisory
- **Incorporated:** 2016-01-21
- **Location:** London
- **Industry:** 64992 Factoring

## Why it went into administration

- Creditor pressure / legal action
- Parent or group failure
- Competition / price pressure

## From the administrators' statement

Stenn UK was incorporated in England and Wales on 21 January 2016 and traded from Stenn International’s leasehold offices in London. The Company operated a business providing invoice discounting services, purchasing receivables at a discount from Sellers based in emerging markets who provided goods and services to their buyers. The Company then sold the receivables to StAF, a securitisation vehicle funded by a group of financial institutions.

The business of invoice discounting involves the sale and purchase of receivables at a discount. Typically, a supplier (the “Seller”) will provide goods or services to a purchaser (the “Obligor”) on payment terms. The payment terms mean that there will be a time lag between the Seller issuing the invoice and the due date for payment by the Obligor (eg: 90 days or 120 days). To accelerate its receipt of monies, the Seller may sell the receivable to a factor (eg: Stenn Group) at a discount. In this way, the Seller will receive a percentage of the face value of the invoice immediately from the factor, who will become entitled to collect 100% of the invoice amount from the Obligor on the due date at the expiry of the payment terms.

The Company operated as the originator of the receivables purchased by StAF, and Stenn

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09964011/filing-history/MzQ1MjI5MTcwOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09964011

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.