Both Shojin Financial Services and Shojin Property Partners entered administration on 23rd March.
According to a statement on Shojin’s website, this is due to the companies’ insolvency.
“Shojin is not currently accepting new investments,” added the statement.
“Withdrawals can be made as usual.
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“Each project is ringfenced in individual SPVs and is not affected by the administration.”
Records on the Gazette show Simon Carvill-Biggs and Ian Corfield from FRP Trading Advisory Limited have been appointed as the Joint Administrators.
Their role is to manage the situation in the best interests of the creditors and to promptly and efficiently maximize any recoverable value from the property developments.
Development Finance Today has contacted Shojin for further comment.
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