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LONDON - Linklease Finance PLC, a company incorporated in England and Wales, is set to enter into creditors voluntary liquidation as communicated by Quantuma Advisory Limited. The decision by the directors of Linklease Finance, due to its financial position, has led to a scheduled meeting of creditors on June 3, 2025.
The notice to the holders of the Series 2021-LL3 notes issued on October 14, 2021, with ISIN: GB00BK9R4J84, comes after a lack of response following the November 19, 2024, announcement that outlined potential actions for note holders. These included the option to vote on proposals via an Extraordinary Resolution or to direct the Note Trustee to enforce the secured assets, subject to certain conditions.
As of today, the Note Trustee has not received any proposed Extraordinary Resolution from the Issuer nor instructions from note holders to enforce assets, despite the option being available if supported by holders of more than 25% of the notes and the settlement of fees and pre-payment of initial enforcement costs.
The Note Trustee, which requires indemnification and/or prefunding to its satisfaction, has stated that it will not take any further action without the request or direction of the note holders. This position is maintained in the wake of the proposed liquidation, as it is unlikely that the Note Trustee will recover the amounts due by the Issuer.
Note holders have been reminded that any correspondence with the Note Trustee should include the ISIN of the notes and "Linklease Finance Plc" in the subject line. Moreover, without indemnification and payment of costs incurred to date, the Note Trustee will be unable to take further action.
The Note Trustee has emphasized that it does not provide recommendations or legal or investment advice regarding the contents of this notice. Note holders are advised to seek their own independent professional advice and not to rely on information provided by the Note Trustee or the Issuer.
This development is significant for investors and note holders of Linklease Finance PLC, who must now decide on their course of action in light of the company’s financial troubles and impending liquidation. The information in this article is based on a press release statement.
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