Godwin Capital No.6 Limited (11705252): administration
- Status
- In administration
- Administration began
- 2025-06-20
- Administrators
- Steven Illes, Andrew John Duncan
- Administrators' firm
- Mha
- Incorporated
- 2018-11-30
- Location
- London
- Industry
- 64303 Activities of venture and development capital companies
Why it went into administration
- Cash flow / liquidity pressure
- Rising costs / inflation
- Property / lease costs
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my Proposals has been prepared based on company documentation which has been received and reviewed and not from my personal knowledge as Joint Administrator.
The Company was incorporated on 30 November 2018, with its registered office at 4 Castle House, Kirtley Drive, Nottingham, Nottinghamshire, NG7 1LD. It formed part of the wider Godwin Group (“the Group”), which comprised a network of property investment, development and special purpose vehicle (“SPV”) property holding companies, including Godwin Capital No.6 Limited (“the Company”). There are over 100 companies in the wider Godwin Group and this is a very complex matter. The Group’s model involved raising capital from investors through the issue of fixed rate “Wakala Notes’. The Company issued two core Wakala products offering expected profit rates of 8% and 11%, with profit payable in arrears either bi-annually or on the final redemption date. Each Wakala note was secured by a legal charge over the Company’s assets, with the debenture held by Blue Water Capital Limited (“BWC”), acting as the Security Trustee on behalf of the wakala note holders (‘WNH’).
Funds raised by the Company were to be loaned to the development SPVs within the Group to support the acquisition, development and building of residential, commercial and mixed-use properties across the UK. The Group’s projects included build-to-rent schemes, family housing, roadside retail and student accommodation. In the Information Memorandum provided to the WNH, funds advanced in respect of property developments to the SPVs were to be secured by debentures as security for such loans but, from information obtained to date, this security was not obtained and any such funds advanced are unsecured debts.
Administrators' statement of proposals (2025-08-20) · Companies House register