From the administrators' statement

Lloyds Developments LLP ("LLP") is an English registered Limited Liability Partnership which was incorporated in May 2017.

We understand that LLP was set up as part of a tax planning structure to facilitate the acquisition and development of a Hotel via a related entity. The related entity - Lloyds Developments Limited (“the Company”) has some common directors with LLP and is within the secured lending structure.

LLP holds the beneficial interest in the Property located at 246 Clyde St, Glasgow G1 4JH. The Property traded as a hotel under a Management agreement with a hotel operator.

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Lloyds Developments LLP (OC417390)

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