Smith & Williamson (S&W) quartet Finbarr O'Connell, Adam Stephens, Colin Hardman and Henry Shinners have been appointed joint administrators of mini-bond issuer London Capital & Finance PLC (LCF).
The company's mini-bonds were used for the purposes of making loans to corporate borrowers to provide those borrowers with capital for further investment. S&W said there were around 14,000 bondholders with LCF and that it was working to contact the investors to make them aware of the situation and had set up a dedicated call centre and email system. The firm said investors in LCF's mini-bonds were UK retail clients who fell into the category of high net worth individuals, self-certified sophisticated individuals or restricted investors. O'Connell said: "It is early days, but our ro...
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