Quantuma appointed administrator of ABLRate

Quantuma has been appointed as the administrator of Peer to Peer (P2P) lending platform Aviation and Tech Capital Limited and ABLRate Assets Limited, trading as ABLRate.

ABLRate appointed managing directors Brian Burke, Sean Bucknall and Andrew Hosking as joint administrators.

They will continue the orderly wind down of the loan portfolio in order to return monies to the lenders. 

Prior to Quantuma’s appointment, all ABLRate staff were made redundant.

The administration team said it will contact all those who have been affected and “will be on hand to assist any creditors and loan investors who need support”. 

Brian Burke, managing director at Quantuma, said: “Due to ongoing financial challenges facing the company, the directors resolved that it would be in the best interests of ABLRate and its creditors and loan investors, to appoint administrators. Our focus will now be on securing the best possible outcome for all parties. Wherever possible, this will include the repatriation of client monies, orderly wind down of loan books, and ultimately protecting the interests of investors and creditors.

“We would urge all parties affected by this news, in the first instance, to visit the ABLRate website where we have circulated FAQs. We would also invite any parties that may hold an interest in acquiring elements of the business or technology assets to get in contact.”