# Blackthorn Finance Ltd (10024682)

> Why UK company 10024682 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10024682

- **Status:** In administration
- **Administration began:** 2025-04-14
- **Administrators:** Philip Hemming, Adam Henry Stephens, Kevin Ley
- **Administrators' firm:** Evelyn Partners
- **Formerly:** Senit Remittance Limited
- **Incorporated:** 2016-02-24
- **Location:** London
- **Industry:** 64999 Financial intermediation not elsewhere classified

## Why it went into administration

- Property / lease costs

## From the administrators' statement

Part of the former Joint Liquidators’ work was to complete a Customer offboarding process which included i) reconciling the segregated Relevant Funds held with the Company’s Correspondent Banks to the Customer claims and ii) distributing each Customers’ respective share of the Relevant Funds, subject to the Customer having submitted details of their claim and having provided all requisite documentation to comply with all relevant anti-money laundering regulations.

To complete this work, the Joint Liquidators issued a Customer Details Form and requested this be completed by all Customers wishing to submit a claim to a share of the Relevant Funds.

This work led to claims being received from Customers which did not agree with or, alternatively, were not included on the Company’s reconciliation. The Joint Liquidators therefore took the decision to rehost the transaction histories included in BFL’s operating platform (known as ‘Crassula’) within a SQL database with a view to reviewing ledgers and verifying the Customers’ closing balance at the time the restrictions were imposed. This rehosting exercise was required as BFL’s operating platform had been decommissioned as part of the orderly wind down of the Company’s operations.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10024682/filing-history/MzQ3MDE3MzQyNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10024682

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