This has confidentiality all over it so in the most general terms
A borrower went bust. The circumstances didn't see right.
In order to pursue the various parties involved, there would be significant costs involved, which the Liquidators would be unable to fund due to the lack of assets that were immediately realisable within the Company.
In the interests of our lenders, TLS took the decision to provide an undertaking up to £100,000 to the Court, in respect of an adverse costs Order being made against the Liquidators in respect of the legal action being brought against certain parties.
... legal proceedings were brought against .... in relation to claims totalling (lots). Having satisfied the Court as to the risk of dissipation of property, Freezing Orders were successfully obtained over (many properties)
Well done TC (still my favourite platform)
Interests declared: I have shares in Assetz, Syndicate Room, The Housecrowd. They are as nothing compared to my investments on and reliance on the good health of many other platforms here.