Some more info has been posted in DDC. In short I understand Fundingsecure made an application for, and was granted, the replacement of the original administrator. The director and former administrator are presumable unhappy about this and are seeking a remedy against Fundingsecure, the borrowing company and the administrators of FS.
I run "the investigative court reporting blog, Mouse in The Court". Read my work on P2P here: tinyurl.com/43n6swpt
"As per the previous update, the Administrator of the borrower company has advised that matters are now entering into the litigation stage, and solicitors have been instructed accordingly. We are unable to to disclose the nature of claim(s) at this stage, as it may jeopardise the Administrators' ongoing investigations. This process may become protracted and a further update will be provided, once available."
I am not in this one - as a matter of interest have we any idea who the new owner is - wouldn't be the owner of the ransom strip by any chance would it?
I note the charge for this one was taken out in Dec 2016 - virtually 6 years ago!
Yet another FS mega farce...
I will revisit in around 4 months time (when Land Registry updates) to confirm but suspicions certainly of a dodgy deal. Can't see anyone else willing to pay that with the issues and without knowing how the issue will be resolved.