Fenchurch SPV 5 Limited (16066447): administration
- Status
- In administration
- Administration began
- 2026-06-26
- Administrators
- Andrew Lawrence Hosking, Andrew Andronikou
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2024-11-07
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Creditor pressure / legal action
- Management failings / irregularities
From the administrators' statement
The Company was incorporated on 7 November 2024 as a special purpose vehicle and wholly owned subsidiary of Fenchurch Legal Ltd (“Fenchurch’).
Cadence Group Platform, LLC, Series 143 (“Cadence”) advanced funding to the Company under a series of senior secured asset-backed promissory notes. We understand that approximately £2.8m is outstanding across seven draws at the date of our appointment. Cadence holds security over the Company pursuant to a debenture dated 16 December 2024, registered at Companies House on 6 January 2025, which granted fixed and floating security over the Company’s assets.
The purpose of the Company was to advance the aforementioned funding to Fenchurch to deploy those funds into its portfolio of case receivables. As part of this structure, it was intended that this funding would be collateralised by the underlying receivables by way of assignment of the beneficial interest in such. The value of the receivables intended to act as collateral is understood to amount to c. £4.1m.
Administrators' statement of proposals (2026-08-27) · Companies House register