Peer to peer lender enters administration

Damian Webb, Phillip Sykes and Mark Wilson of RSM Restructuring Advisory LLP were today (24 May) appointed joint administrators of three companies within the Lendy Group, operators of a peer to peer secured property lending platform.

The companies are Lendy Limited, Saving Stream Security Holdings Limited and Lendy Provision Reserve Limited, all of which are subsidiaries of Lendy Group Limited. 

The administrators, who have been appointed by an order of the Court, are working closely with the FCA who have consented to their appointment over the companies.

The administrators will take control of the companies' operations and will formulate their proposals for achieving the purposes of the administrations for circulation to investors and creditors in due course. 

Investors and creditors are advised to consult the Lendy website www.lendy.co.uk which will be updated as further information on the administrations of the companies becomes available. 

There is a dedicated phone line on 0203 858 9653. This will contain recorded information initially but will be manned from Wednesday 29 May. Interested parties can also email lendy.restructuring@rsmuk.com.