Blackmore Bonds files for administration as investors face anxious wait for their cash back

Thousands of investors with more than £45m held in “mini-bonds” issued by property investment firm Blackmore face an anxious wait to find out if they will get any cash back after the firm appointed administrators on Thursday.

Geoff Bouchier and Benjamin Wiles of Duff & Phelps have been appointed after a winding up petition was presented against the firm by bondholders last week. This was due to be heard in August.

In a letter to bondholders on Thursday, the trustee – Oak Fund Services –  said Blackmore had taken out loans in February and April and had bought further sites,

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Mini-bond house builder Blackmore faces court action from angry investors over missed payouts

Investors in the mini-bond seller Blackmore Bond have mounted a bid to liquidate the firm, deepening its troubles as it struggles to raise cash during the coronavirus crisis.

A group of bondholders has teamed up to file a High Court winding-up petition against the company, which has missed its latest two quarterly coupon payments.

One bondholder who has invested thousands said: “It’s very hard not knowing what’s going on. If we knew what was happening to our money we could at least start getting on with our lives. Not knowing is really harmful.”

Blackmore raises money from the public by

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