Who Are The 12 Borrowers with Loans from London Capital & Finance?
Companies Loaned Money by LCF
The 12 companies that London Capital & Finance loaned money to have not been named by the administrators but the information is publicly available at Companies House. One of the companies is also loaning money to a company on the London Stock market so has to publish details of the loans. These companies are shown as owing money to LCF, this is not speculation, this is factual information from the government register of UK companies.
The list of 12 companies is shown below along with the date the company was created and the date the loan from LCF was given according to the information submitted to Companies House. As can be seen many of the companies are brand new when they had loans from LCF and 9 of the 12 were under 3 years old so cannot have passed the LCF Due Diligence tests for making loans that are quoted in the Information Memorandum.
|Company Name||Date Formed||Date of LCF Loan|
|CV RESORTS LIMITED||Feb 2013||May 2017|
|LONDON POWER MANAGEMENT LIMITED||1990||May 2017|
|London Oil & Gas Ltd||Aug 2015||Jun 2016|
|London Group Llp (owns London Power Mgt)||March 2017||April 2017|
|Waterside Cornwall Group Ltd (charge to LCF)||April 2017||May 2017|
|Colina Property Holdings Ltd||April 2017||May 2017|
|Colina Support Ltd||April 2017||April 2017|
|Costa Support Ltd||April 2017||April 2017|
|Costa Property Holdings Ltd||April 2017||May 2017|
|Prime Resort Development Ltd||Sep 2017||Oct 2018|
|Riverview Equestrian Ltd||Jan 2017||Oct 2017|
|Cape Verde Support Limited||April 2017||April 2017|
You can read the full list of companies and their details here
4 of the companies have never filed accounts and 9 of them had loans from LCF in April & May 2017.
Some of these companies such as London Oil & Gas have subsequently lent the money they borrowed from LCF onto other companies. London Oil & Gas was lent £122 million according to the administrators, that's more than 50% of the bond money taken from investors that has been lent to one company. We don't know the loan values to the other companies at this point.