Signature Shankly

SIGNATURE SHANKLY LTD  –  20/04/2020:

WE HAVE AMENDED OUR ORIGINAL ARTICLE AT THE REQUEST OF SOME OF THE PARTIES INVOLVED.  WE ARE ALWAYS HAPPY TO AMEND ANY INACCURATE STATEMENTS WHEN IDENTIFIED OR TO UPDATE OUR ARTICLES IF ANY OF THE PARTIES INVOLVED IS SUPPORTING INVESTORS.

Signature Shankly Ltd, the company which owns The Shankly Hotel in Liverpool, was forced into administration on 9^th April 2020.

However, the administration had a twist in the tail and wasn’t the outcome investors were expecting.

Safe Or Scam has been investigating a whole suite of Signature hotel investments, workspace investments and loan notes for a long time. Here is one of our earlier articles. 

One of our clients filed an emergency administration application over Signature Shankly Ltd which was due to be heard by the High Court in London at 1030 hrs on 9^th April 2020.  We had brought together several other investors to support the application.

Approximately one hour before the hearing investors were informed that Signature Shankly Ltd had been put into administration by one of its main lenders – Henslow Trading Ltd.

The lender is perfectly entitled to take this course of action and there is nothing unlawful in it, but it strikes us as odd that they would not wait until after the investors’ application had been heard.

CORRECTION 20/04/2020 – at this point we stated that the law firm representing Signature Shankly Ltd AGAINST the investors’ application turned out to be the same law firm representing the lender FOR their application against Signature Shankly Ltd.  That law firm has advised that it has no relationship with the lender which we now accept.

The investors had selected Quantuma LLP as their administrator of choice.  Following the sudden intervention of Henslow Trading Ltd, Quantuma issued this statement:

Following a request by an investor in Signature Shankly Limited, Quantuma were requested at consent to their appointment as Joint Administrators of the Company [Signature Shankly Limited].

Investors were concerned that despite repeated requests, Signature Shankly Limited had failed to maintain payments to investors or buy back investments under agreed terms.  A number of investors issued an administration application as a result of their unpaid liabilities and hoped that Quantuma would be able both to deal with their investments and also undertake an independent investigation into the affairs of the Company. 

Quantuma partner Simon Bonney said, “these are very concerning events for investors.  The Company and the wider Signature group have been subject to winding up petitions and the administration of Signature Shankly is going to have serious consequences, not least because over £10m of the company’s money seems to have been lent to other Group companies according to the last filed accounts.  Those funds will have to be repaid”. 

Mark Hendrick of Quantuma is currently advising a number of investors and Quantuma is urging investors to get in touch.  

Although this administration application related to Signature Shankly Ltd, investors in every Signature investment product, including Signature Shankly Ltd, are invited to contact us via our Contact Form page.

We feel it is time for Signature investors to unite to protect what value is left in their investments.  We have partnered with a law firm to take matters forward.

To view our next article on the Signature investment scandal please click here.