# Fenchurch SPV 5 Limited (16066447)

> Why UK company 16066447 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/16066447

- **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.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/16066447/filing-history/MzUzOTMyMTk5MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/16066447

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.