Cherry Tree Mortgages Limited (in administration)
This site provides information regarding the progress of the administration of Cherry Tree Mortgages Limited (“Cherry Tree”).
Cherry Tree entered administration on 13 October 2008. The current Joint Administrators are AV Lomas, SA Pearson, JG Parr and GE Bruce. The Joint Administrators manage Cherry Tree’s affairs, business and property as agents without personal liability. All the Joint Administrators (the “Administrators”) are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
AV Lomas, SA Pearson, JG Parr and GE Bruce are Data Controllers of personal data as defined by the Data Protection Act 1998. PricewaterhouseCoopers LLP will act as Data Processor on their instructions. Personal data will be kept secure and processed only for matters relating to the administration.
Cherry Tree Claim Submission Information
The Administrators applied to Court for permission for Cherry Tree to become a distributing administration. That permission was granted on 24 June 2013, and Cherry Tree now has a formal legal process for agreeing creditors’ claims. Therefore, we have provided a Cherry Tree Statement of Claim form which can be downloaded here, and we encourage all creditors to submit their claims in short order. The Administrators request that all claimants use this form for consistency, and all claims should be submitted with full supporting documentation. Please execute your Statement of Claim and upload as a PDF and email to the following address: Lehman.affiliates@uk.pwc.com.
Updates
Notice of Declaration of a Fourth and Final Dividend dated 24 August 2015
On 24 August 2015, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a fourth and final dividend of 5.305 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the notice to all creditors who have proved their debt is available here.
Notice of Declaration of a Third Dividend dated 13 August 2015
On 13 August 2015, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a third interim dividend. The Joint Administrators are unable to advise the timing and quantum of any further dividends. A copy of the Notice to all creditors who have proved their debt is available here.
Notice of Intended Dividend dated 8 June 2015
Based on current information, the Administrators are of the view that there are sufficient realisations to allow a fourth and final distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 29 June 2015. A third dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.
Notice of Intended Dividend dated 29 May 2015
Based on current information, the Administrators are of the view that there are sufficient realisations to allow a third distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 18 June 2015. A third dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.
Notice of Declaration of a Second Dividend dated 12 September 2014
On 12 September 2014, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a second interim dividend of 40 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. The Joint Administrators are unable to advise the timing and quantum of any further dividends. A copy of the Notice to all creditors who have proved their debt is available here.
Notice of Intended Dividend dated 19 August 2014
Based on current information, the Administrators are of the view that there are sufficient realisations to allow a second distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 9 September 2014. A second dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.
Notice of Declaration of a Dividend dated 20 September 2013
On 20 September 2013, pursuant to Rule 2.98 of the Insolvency Rules 1986, the Joint Administrators declared and paid a first interim dividend of 9 pence in the pound to all unsecured creditors whose claims have been admitted for dividend purposes. Further dividends are anticipated, though the timing and quantum is uncertain at present. A copy of the Notice to all creditors who have proved their debt is available here.
Notice of Intended Dividend dated 31 July 2013
Based on current information, the Administrators are of the view that there are sufficient realisations to allow a first distribution to be made to unsecured creditors. The Administrators issued a Notice of Intended Dividend to all known creditors who have not yet proved their debt stating a last date for proving of 30 August 2013. A first dividend will be paid within 2 months of that date to creditors with agreed claims. A copy of the Notice is available here.
Application to extend the Administration
The Joint Administrators made an application to the High Court on 30th October 2014 to extend the Administrators’ term of office by a further 12 months to 30 November 2015. A copy of the Order can be found here.
Progress reports
Creditors are updated on the progress of the administration of Cherry Tree through the Administrators' six monthly progress reports and via this website. We encourage creditors who believe they may be entitled to claim against Cherry Tree to continue to check this website for relevant information.
Pursuant to Rule 2.47 of the Insolvency Rules 1986, the Administrators' progress reports issued to date have been sent to all known creditors and counterparties. Each report provides an account of the steps that have been taken in the administration of Cherry Tree over a six month period. To view the past reports please click on the applicable link below:
- Cherry Tree - Joint Administrators' Final Progress Report dated 12 October 2015
- Cherry Tree - Joint Administrators' Thirteenth Progress Report dated 7 May 2015 for the period 13 October 2014 to 12 April 2015
- Cherry Tree - Joint Administrators' Twelfth Progress Report dated 31 October 2014 for the period 13 April 2014 to 12 October 2014
- Cherry Tree - Joint Administrators' Eleventh Progress Report dated 9 May 2014 for the period 13 October 2013 to 12 April 2014
- Cherry Tree - Joint Administrators’ Tenth Progress Report dated 8 November 2013 for the period 13 April 2013 to 12 October 2013
- Cherry Tree - Joint Administrators’ Ninth Progress Report dated 9 May 2013 for the period 13 October 2012 to 12 April 2013
Progress reports 2008 to 2012
Contacts
If you have any queries in relation to Cherry Tree's administration, please send an email to Lehman.affiliates@uk.pwc.com.
