From the administrators' statement

3.1 The Company had been provided with loan facilities by Collateral Security Trustee Limited (“CST”), which operated as a peer to peer lender. On 27 April 2018, Shane Crooks and Mark Shaw of BDO were appointed as Joint Administrators of CST, following an application by the FCA to the High Court.

3.2 The Company’s loan facilities with CST had expired and the Administrators of CST had been seeking repayment of the secured debt. The directors sought to refinance the Company’s debt, however, in the absence of any proposals, the Administrators of CST took steps to appoint Administrators over the company. CST holds fixed and floating charges over the Company’s assets.

3.3 On 22 May 2019, Donald Iain McNaught, and Matthew Purdon Henderson of Johnston Carmichael LLP were appointed Joint Administrators of the

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Kypeside Developments Limited (10220208)

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