Administrators have been appointed to Templar Corporation; nearly a year after the firm first submitted a wind up petition to the court on 21 February 2020, which was dismissed on 29 June for reasons unknown.
A second ‘Petitions to Wind Up (Companies)’ was submitted on 4 January 2021, with administrators Jamie Playford and Alex Dunton of Leading Business Services appointed on 12 January.
The firm entered administration “due to delays in the investment required for the business to begin trading”, Playford said.
“The London-based company sustained pressure from a former employee which resulted in a winding up petition, and as a protective measure, the company entered administration.”
Global position
The ambitious firm offered investment, wealth management and high net worth concierge services and had planned to open offices on every continent.
While its website had not fully launched, it provided some details of the firm’s strategy.
According to an undated statement: “Templar Corporation intends to form an established global position within private banking, working with ultra-high net worth clients to serve transactional, investment and wealth management needs.”
Details
As a result of the administration, 23 employees have been made redundant.
Playford added: “The aim of the administration is to secure the investment and the administrators and directors are working closely to do so. Securing the investment would mean all creditors would be settled in full.
“Total creditors are in the region of £5m ($6.8m, €5.67m).”
