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79th Group Proposals Rejected -Why Creditors Must Now Take Control
Loan note holders in the 79th Group companies have rejected the administrators’ proposals - a decisive move that shifts power back to creditors.
In this episode, we explain:
- Why administration cannot achieve its statutory purpose.
- Why liquidation is now the most effective path forward.
- How creditors can cap administrator fees at £150,000.
- Why stronger investigative powers make liquidation the better forum.
- Why the process must exit administration within 28 days.
- The crucial role of creditors’ committees in supervising costs and decisions.
Key Insight: Administrators rarely pursue third-party recovery because they lack incentive. That’s why creditors need oversight and experienced committee representation.
What’s Next:
- Push for conversion to liquidation.
- Enforce fee caps.
- Exercise your statutory right to control remuneration.
- Nominate Rob Smith, Codie Cage, or Britena Clarke to represent you on the creditors’ committee.
This is the moment to stand firm. Creditors have already shifted the balance of power. With unity and persistence, liquidation can deliver accountability, transparency, and a genuine chance of recovery.
To participate, coordinate, or nominate committee representatives, email: [email protected]
Disclaimer: Insolvency & Law Ltd is not a firm of solicitors or licensed insolvency practitioners and does not provide legal advice, investment advice, or any regulated services under the Legal Services Act 2007 or the Financial Services and Markets Act 2000. All content published by I&L relating to companies mentioned therein, including blogs and podcasts, is provided free of charge for general information and educational purposes only. Therefore, it must not be relied upon as professional advice.
Where appropriate, I&L may take legal assignment of loan notes issued by companies in its own name, for the purpose of enforcement and recovery. In such cases, I&L bears all associated costs and risks, and the original loan note holder is fully insulated from legal expense and liability.
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By Insolvency & LawLoan note holders in the 79th Group companies have rejected the administrators’ proposals - a decisive move that shifts power back to creditors.
In this episode, we explain:
- Why administration cannot achieve its statutory purpose.
- Why liquidation is now the most effective path forward.
- How creditors can cap administrator fees at £150,000.
- Why stronger investigative powers make liquidation the better forum.
- Why the process must exit administration within 28 days.
- The crucial role of creditors’ committees in supervising costs and decisions.
Key Insight: Administrators rarely pursue third-party recovery because they lack incentive. That’s why creditors need oversight and experienced committee representation.
What’s Next:
- Push for conversion to liquidation.
- Enforce fee caps.
- Exercise your statutory right to control remuneration.
- Nominate Rob Smith, Codie Cage, or Britena Clarke to represent you on the creditors’ committee.
This is the moment to stand firm. Creditors have already shifted the balance of power. With unity and persistence, liquidation can deliver accountability, transparency, and a genuine chance of recovery.
To participate, coordinate, or nominate committee representatives, email: [email protected]
Disclaimer: Insolvency & Law Ltd is not a firm of solicitors or licensed insolvency practitioners and does not provide legal advice, investment advice, or any regulated services under the Legal Services Act 2007 or the Financial Services and Markets Act 2000. All content published by I&L relating to companies mentioned therein, including blogs and podcasts, is provided free of charge for general information and educational purposes only. Therefore, it must not be relied upon as professional advice.
Where appropriate, I&L may take legal assignment of loan notes issued by companies in its own name, for the purpose of enforcement and recovery. In such cases, I&L bears all associated costs and risks, and the original loan note holder is fully insulated from legal expense and liability.