SPV administrations expose deeper problems at Fenchurch Legal

The administrations of several Fenchurch Legal SPVs reveal that more than £26 million of investor capital was channelled into the collapsed litigation funder through a network of special purpose vehicles, leaving investors and secured creditors competing over recoveries from the same disputed £16 million litigation loan book amid unresolved questions over intercompany balances, security interests and a connected-party sale of receivables.

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