London Loans

As some of you are aware, we are acting for a number of the Lendy Lenders/investors. They have encouraged us to engage in thisforum to hopefully provide clarity as to the ongoing litigation involving Lendy Limited (“Lendy”) and the London loans.
We would like to clarify that whilst we have been recommended by Lendy to act on behalf of the Lenders, we have no prior or currentrelationship with Lendy.
Lendy’s solicitors are unable to represent both Lendy and the Lenders as defendants in this claim as this may give rise to a conflict of interest. Therefore, Lendy recommended Harrison Clark Rickerbys Limited (“HCR”) as a separate Law firm to act on behalf of those that would like to instruct us.
In addition, there is a suggestion that Lendy’s solicitors will be representing the Lenders as well as Lendy. It is our understanding that Lendy’s solicitors will not be representing the Lenders and will be acting solely as Lendy’s legal representatives. The need for independent representation arose whenthe individual Lenders were joined to the claim by the borrowers. However, we are working with Lendy’s solicitors as it is inour respective interests to successfully defend the borrowers’claim.
We wish to make it clear that any sharing of confidential information between this firm and those Lenders who have either contacted us or chosen to instruct us may potentially compromise our clients’ position. Therefore, please do carefully consider posting any advice we provide as there is a considerable risk that it will be seen by the borrowers.
This firm has written to all the Lenders in the London loans to inform them that they have been joined to the claim by the borrowers.
We trust that the above clarifies HCR’s position and provides clarity as to the capacity in which HCR are being instructed by Lenders.
We intend to maintain a presence on this platform for the purposes of engaging in dialogue where we may assist in providing clarity. Please note that we may not be able to respond to each query, and that we are bound by the rules of this forum as to the content of any communications.
Yours faithfully
Adam Finch
Partner
For and on behalf of
Harrison Clark Rickerbys Limited