Float Capital Limited (11406159): administration
- Status
- Administration ended
- Administration began
- 2024-05-16
- Administrators' firm
- Kroll
- Incorporated
- 2018-06-08
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Rising costs / inflation
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 8 June 2018, with William Cunningham and Tessa Laws appointed as directors initially, and Chris Cauvain was subsequently appointed as director on 3 September 2018, around the time the Company started trading. Ms Laws resigned from the role of director on 22 January 2019.
Trading operations were conducted from an office in central London, with the Company as an unregulated corporate lending vehicle. Operations were initially funded by issuing bonds to its single institutional investor, PTC, as well as to two known high-net-worth Qualifying Non-UK Pension Scheme (QNUPS) investors seeking income on their capital.
Administrators' statement of proposals (2024-07-15) · Companies House register