C Coda Residences Limited (15843263): administration
- Status
- In administration
- Administration began
- 2026-03-10
- Administrators
- Joanne Hewitt-Schembri, Ali Abbas Khaki, Matthew Boyd Callaghan
- Administrators' firm
- FTI Consulting
- Incorporated
- 2024-07-17
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was set up as a special purpose vehicle (“SPV”) for the purpose of purchasing properties at Coda Residences, 6 York Place, London, SW11 3JD and SW11 3JE in London (“the Properties”). The Company obtained financing by way of loans provided by Zircon Bridging Limited (“ZBL”) and Icon Funding Limited (“IFL”) secured against the Properties (“the Secured Creditors”). ZBL’s sole director is Paresh Raja who is the founder of Market Financial Solutions Limited and associated companies (“the MFS Group”). The Company’s sole director is Dipeshkumar Patel, it is understood Mr Patel is an associate of Paresh Raja.
In conjunction with Slaughter and May (“SandM”), our legal advisors, we are reviewing the validity and priority of the Secured Creditors’ charges over the Properties.
Following the appointment of administrators over ZBL and the MFS Group, ZBL took enforcement action over the loan it had granted to the Company (following events of default} and then applied to the Court to place the Company into Administration.
Administrators' statement of proposals (2026-05-11) · Companies House register