Administrators do not anticipates payments to be made to non-preferential unsecured creditors
Southern Housing lost more than £36m after the collapse of Henley Construct in 2023.
According to a report by liquidators, the south London residential contractor had been “engaged in a number of substantial projects building residential units for HAs”, including Optivo Development Services (ODS).
ODS’ parent organisation, Optivo, merged with Southern Housing Group in December 2022 to create Southern Housing, which now manages around 80,000 homes. Henley went into administration in April 2023.
The final progress report from 360 Insolvency Ltd said the “respective HAs have claims pursuant to contract terms for loss and damage suffered as a result of the termination”.
It said it had received a claim from Optivo Development Services Limited for £36,045,633.
A spokesperson for Southern said the claim submitted to the liquidators “reflect the cost of works under those contracts”.
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Henley also went down with trade and expense creditors totalling £6.7m.
The administrators said they did not anticipate paying a dividend to non-preferential unsecured creditors like Southern.
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