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Storm Funding Limited (in administration)

This site provides information regarding the progress of the administration of Storm Funding Limited ("Storm") and will be updated as and when new information becomes available.

DY Schwarzmann, EJ Macnamara, GE Bruce and DJ Kelly were appointed as Joint Administrators (the "Administrators") of Storm to manage its affairs, business and property as agents without personal liability. DY Schwarzmann,  EJ Macnamara, GE Bruce and DJ Kelly are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

DY Schwarzmann,  EJ Macnamara, GE Bruce and DJ Kelly may act as Data Controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of DY Schwarzmann,  EJ Macnamara, GE Bruce and DJ Kelly. Personal data will be kept secure and processed only for matters relating to the Administrators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Administrators.

The Administrators are bound by the Insolvency Code of Ethics which can be found here.

Storm Claim Submission Information

Storm became a distributing administration on 24th June 2013, and Storm now has a formal legal process for agreeing creditors’ claims. The Administrators have provided a Storm Statement of Claim form which can be downloaded here, and we encourage all creditors to submit their claims at the earliest opportunity. 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: uk_storm_claims@pwc.com.

Administrators granted an extension of six years to the Administration

On 4 November 2016, the Joint Administrators of Storm were granted a six year extension to their term of office expiring 30 November 2022, pursuant to paragraph 76(2)(a) of Schedule B1 to the Insolvency Act 1986.

Should you have any queries regarding this update, please contact John Baker at uk_storm_claims@pwc.com.

Updates

Notice of Declaration of a Fourteenth Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 28 November 2022 the Joint Administrators declared a fourteenth and final dividend of 0.187 pence in the pound which will be paid on 28 November 2022 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay a Fourteenth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 21 September 2022 the Joint Administrators gave notice of their intention to make a fourteenth and final dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here.

Notice of Declaration of a Thirteenth Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 6 July 2021 the Joint Administrators declared a thirteenth interim dividend of 0.114 pence in the pound which will be paid on 02 August 2021 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay a Thirteenth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 6 July 2021 the Joint Administrators gave notice of their intention to make a thirteenth dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here.

Notice of Declaration of a Twelfth Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 3 August 2020 the Joint Administrators declared a twelfth interim dividend of 0.3 pence in the pound which will be paid on 18 September 2020 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay a Twelfth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 3 August 2020 the Joint Administrators gave notice of their intention to make a twelfth dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here.

Notice of Declaration of an Eleventh Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 28 June 2018 the Joint Administrators declared an eleventh interim dividend of 0.53 pence in the pound which will be paid on 19 September 2018 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay an Eleventh Dividend 

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 28 June 2018 the Joint Administrators gave notice of their intention to make an eleventh dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here.  

Notice of Declaration of a Tenth Dividend

Pursuant to Rule 14.35 of the Insolvency Rules 2016, on 16 April 2018 the Joint Administrators declared a tenth interim dividend of 0.125 pence in the pound which will be paid on 17 April 2018 to all unsecured creditors whose claims have been admitted for dividend purposes. A copy of the Administrators' notice to all creditors who proved their debt can be found here.

Notice of Intention to pay a Tenth Dividend

Pursuant to Rule 14.29 of the Insolvency Rules 2016, on 12 March 2018 the Joint Administrators gave notice of their intention to make a tenth dividend distribution to the preferential creditors (if any) and to the unsecured, non-preferential creditors. A copy of the notice can be found here. 

See details of earlier dividends

Progress Reports

Creditors are updated on the progress of the administration of Storm through the Administrators' six monthly progress reports and via this website. We encourage counter parties who believe they may be entitled to claim against Storm to continue to check this website for relevant information.

Pursuant to Rule 18.6 of the Insolvency Rules 2016, the Administrators' progress reports issued to date have been sent to all known creditors. Each report provides an account of the steps that have been taken in the administration of Storm over a six month period. To view the past reports please click on the applicable link below:

Progress reports 2008-2016

Contacts

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