House Crowd administration extended again
The House Crowd’s administration has been extended once again, with the new end date set for February 2024.
According to documents filed on Companies House, administrators at Quantuma have filed to extend the process until at least 23 February 2024 – exactly three years after The House Crowd went into administration.
This marks the third time that the administration has been extended. In January 2022, Quantuma requested an extension to February 2023.
Then in January 2023, the courts granted another six month extension, to August 2023. On 22 August, Quantuma successfully filed to have the process extended until February 2024.
Read more: BLN loses IFISA authorisation as administration concludes
Quantuma administrators have previously spoken about the “incredibly complex” administration process.
In October 2022, Quantuma admitted that the administration process was unlikely to be completed until February 2024 at the earliest, while telling investors that they must wait another six to 12 months for disbursements.
Earlier this year, the administrators said they were still “in the process of constructing a suitable distribution proposal” as “the complex nature of the legal agreements relating to the loans … has led to this process becoming extremely protracted.”
To date, the administrators have billed more than £872,000 in fees.