MP & Silva Limited

On 19 October 2018 Zelf Hussain and Mike Jervis were appointed by the Secretary of State as Joint Liquidators of the Company; trading as MP & Silva, the Company was a full service global sports agency, and is disclosed in its website as a leading international media company. The Company is based in London and is part of a worldwide network.

The winding up petition was granted on 17 October 2018. Following the winding up order, we requested that the Official Receiver consider asking the Secretary of State for an immediate appointment, as there was a possibility that assets could be in jeopardy if there was any substantive delay between the WUO and the active participation of a liquidator. With this suggestion supported by the petitioning creditor, and the Company’s London landlord, the Official Receiver agreed, and requested an urgent application, which was approved in less than 48 hours. 

Mike Jervis, one of the Joint Liquidators sadly passed away in January 2023. Subsequently, an application was made to the High Court, to appoint David Baxendale as Joint Liquidator. On 9th March 2023, the court ordered that effective from the 23rd March 2023, David Baxendale would replace Mike Jervis as Joint Liquidator. 

For details of the work we have undertaken since the start of the liquidation, please refer to the documents linked to below. Our expectation remains that there will be a dividend payable to unsecured creditors pending the conclusion of ongoing asset realisations and completion of statutory and legal matters. 

Case Update 12 March 2024

Creditors will be aware from previous reports, that since the start of the liquidation the Joint Liquidators have been seeking to resolve ownership of certain payments made to MP & Silva Limited in the summer of 2018. 

At the time of our last progress report, there was one remaining party (“Advanced Payer 1”), who had yet to disclaim any interest in the payments.  We are pleased to confirm that a settlement agreement was agreed with Advanced Payer 1 and this matter has now concluded.

The details of the settlement were as follows:

• Advance Payer 1 received a settlement of $7,777,008 (£6.1 million)

• In exchange Advance Payer 1 agreed to disclaim any interest in the Advance Payment of $15,554,016 (£12.2 million) made in 2018 and withdraw its unsecured claims.

As a result of the settlement, £7,054,392 was released to general estate funds. The settlement provides certainty for the estate and ensures that we can proceed with the liquidation and progress towards a dividend to creditors.

Documents to download:

• Joint Liquidators' Third Remuneration Report
• Proof of debt
• Winding up order
• Notice of appointment
• Joint Liquidators’ Remuneration report
• Joint Liquidators' First Annual Report
• Joint Liquidators' Second Annual Report
• Joint Liquidators' Second Remuneration Report
• Joint Liquidators' Third Annual Report
• Joint Liquidators' Fourth Annual Report
• Joint Liquidators' Fifth Annual Report

Zelf Hussain and  David Baxendale  have been appointed as joint liquidators by the High Court to manage the affairs, business and property of the Company. The joint liquidators act in the capacity of agents of the Company, without personal liability. Both are licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales. The joint liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.

The joint liquidators may act as Data Controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the joint liquidators. Personal data will be kept secure and processed only for matters relating to the joint liquidators' appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the joint liquidators

Contact Details

For further information, pleae email uk_mpsilva@pwc.com.