Contentious Care Home Administration
Quantuma oversee a contentious Care Home Administration.
- The property holding company owned three care homes, two of which were operated by subsidiary companies under Quantuma’s control
- The director had failed to remedy a catalogue of regulatory breaches and the secured lender had no choice but to appoint administrators
- Senior secured debt, c.£4m
- On Quantuma’s appointment we stabilised the regulatory position.
- Quantuma presented a fully funded business model which provided for an orderly wind down of operations such that all residents were transferred to new homes over a 3-month period
- The closed homes were sold and rebuilt into better, larger facilities
- The third home was operated on a sole trader basis by the owner of the property holding company, pursuant to a lease which he had granted himself on favourable terms
- Quantuma used information gathered regarding the owners conduct to influence him to acquire the remaining freehold at its full market value.
- The secured lender was repaid in full
For more information on Administrations, please click here