Further to our last update in August 2024, Just Cash Flow plc (“JCF”), who went into administration in December 2022 have further extended the administration through to December 2026. There appears to be some confusion about who owns what personal guarantee debt, with assignments to various other organisations, so it is difficult to plot what is going on.
One company that some debts have been assigned to are Escher Marwick Limited (“EML”, formerly Escher Marwick plc) who are a secured creditor or JCF, but it is not always clear as a limited company business that has borrowed from JCF as to whether their debt is securing EML’s facilities that were made available to JCF.
Update for Guarantors:
Although the administrators continue to retain and use the Just Cash Flow internal Recoveries team in some cases (and particularly for loans with smaller balances), there are still some guarantee debts that are being pursued by John Morse Solicitors on behalf of the administrators. We continue to see John Morse pursue county court judgements followed by charging orders over property, with a view to seeking sale orders to recover defaulted sums as quickly as possible through the legal process while avoiding bankrupting guarantors for the most part.
Overall, they are clearly looking to realise as much money as possible before December 2026. This may or may not allow for more amenable full and final settlements until December 2026; only time will tell.
If you are being pursued by JCF under an alleged guarantee, please contact us HERE
Update for Companies:
Even if your company is performing on a JCF loan, it is likely that the administrators will still seek to encourage directors to refinance or repay their debt in order to close as many accounts as possible before December 2026. We have even noticed that JCF have been taking every opportunity to default loans for even minor contractual infractions and then subsequently seeking to rely solely and immediately on any guarantee(s) as a faster route to recovery.
If you are such a company and are looking to refinance the debt, please contact Mel Loades on 020 7754 3662 or HERE
