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Mable Commercial Funding Limited (in administration)

This site provides information regarding the progress of the administration of Mable Commercial Funding Limited ("Mable") and will be updated as and when new information becomes available.

AC Grant, DJ Kelly, DY Schwarzmann, EJ Macnamara and GE Bruce were appointed as Joint Administrators of Mable Commercial Funding Limited to manage its affairs, business and property as agents without personal liability. AC Grant, DJ Kelly, DY Schwarzmann, EJ Macnamara and GE Bruce are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.  The Joint Administrators 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 Administrators may act as controllers of personal data, as defined by the UK data protection law, depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators' appointment. Further details are available in the privacy statement on the  PwC.co.uk  website or by contacting the Joint Administrators.　

Mable Commercial Funding Limited is registered in England and Wales with registered no. 02682316.　

VAT registration no. 446 9315 28 

The Administrators are bound by the Insolvency Code of Ethics which can be found here.

Mable Claim Submission Information

Following an application to the High Court of Justice an Order has been granted permitting the Joint Administrators to make distributions to unsecured, non-preferential creditors of the Company, pursuant to Paragraph 65(3) of Schedule B1 of the Insolvency Act 1986.

Mable became a distributing administration on 24 June 2013, and now has a formal legal process for agreeing creditors’ claims. The Administrators have provided a Mable Statement of Claim form which can be downloaded here. The Administrators request that all claimants use this form for consistency, and all claims should be submitted with full supporting documentation. Please execute your Statement of Claim, upload as a PDF and email to the following address: generalqueries@lbia-eu.com.

Administrators granted an extension of three years to the Administration

Extension of Term of Administration to 30 November 2025

On 1 November 2022, the Administrators made an application to the UK High Court to extend the administration for a further 3 years to 30 November 2025, to allow time to resolve outstanding matters as set out in the twenty-eighth progress report. Following an application to Court, an Order was granted by the Court extending the Administrators' term to office to 30 November 2025.

Should you have any queries regarding this update, please contact generalqueries@lbia-eu.com.

Administrators granted an extension of six years to the Administration

On 4 November 2016, the Joint Administrators of Mable were granted a six year extension to their term of office expiring 30 November 2022, pursuant to paragraph 76(2)(a) of Schedule B1 to the Insolvency Act 1986.

Should you have any queries regarding this update, please contact Alison Lieberman at generalqueries@lbia-eu.com.

Updates

Cancellation of Twelfth Dividend

A copy of the letter confirming the cancellation can be found here.

Notice of Intention of a Twelfth Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a twelfth interim distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 18 October 2020. A  twelfth dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of an Eleventh Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 27 January 2020 the Joint Administrators declared an eleventh interim dividend of 2.60 pence in the pound which will be paid on or around 31 January 2020 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention of an Eleventh Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow an eleventh interim distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 20 January 2020. An eleventh dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Notice of Declaration of a Tenth dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 10 September 2019 the Joint Administrators declared a tenth interim dividend of 1.55 pence in the pound which was paid on or around 10 September 2019 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention of a Tenth Dividend

Based on current information, the Administrators are of the view that there are sufficient realisations to allow a tenth interim distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 7 August 2019. A tenth dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.

Cancellation of Tenth Dividend

A copy of the letter confirming the cancellation can be found here.

Notice of Intention to pay a Tenth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 28 March 2019 the Joint Administrators gave notice of their intention to make a tenth dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here.

Notice of Declaration of a Ninth Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 11 January 2019 the Joint Administrators declared a ninth interim dividend of 2.58 pence in the pound which will be paid on 15 January 2019 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay a Ninth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 20 December 2018 the Joint Administrators gave notice of their intention to make a ninth dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here. 

See details of earlier dividends

Administrators’ Progress Reports

Creditors are updated on the progress of the administration of Mable through the Administrators' six monthly progress reports and via this website. We encourage counterparties who believe they may be entitled to claim against Mable to continue to check this website for relevant information.

Pursuant to Rule 18.6 of the Insolvency Rules 2016, the Administrators' progress reports issued to date have been sent to all known creditors. Each report provides an account of the steps that have been taken in the administration of Mable over a six month period. To view the past reports please click on the applicable link below: 

Progress reports 2008 to 2017

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