INSOLVENCY & LAW
Latest Updates On Godwin Capital No.8 Limited
Advisory / Insolvency / Debt Business
A recovery strategy for noteholders
Godwin Capital No. 8 Limited entered administration in June 2025 with around £165 million owed to noteholders.
Many investors were told their loan notes were secured. Since the company entered administration, it has become clear that the security behind those notes is not sufficient.
If the administration runs its course without further action, the likely outcome is that investors recover only a small fraction of what they invested.
As a result, for most people, this raises a simple question: is that really the end of the road?
Why administration alone is unlikely to deliver a meaningful recovery
Administration is designed to deal with what remains inside the company.
However, it is not designed to investigate what went wrong before the collapse, or to pursue the advisers, professionals, or structures that sat behind the investment.
Consequently, where loan notes were sold as secured but turn out not to be, the main opportunity for recovery often sits outside the insolvency process.
That is the focus of this strategy.
A different approach to recovery
Rather than waiting for administration to conclude, Insolvency & Law is bringing Loan noteholders together and pursuing recovery through coordinated action.
By acting collectively, investors are able to:
- gain influence within the insolvency process
- access information and documents that are not otherwise forthcoming
- examine what happened before insolvency
- pursue recovery beyond the failed company itself
Any recoveries achieved through third party actions fall outside the insolvency and flow directly to participating noteholders.
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What we are aiming to achieve
If administration alone is allowed to run its course, recoveries are expected to be around 4%, broadly in line with national averages for unsecured claims.
Our objective is to achieve recoveries materially higher than this by pursuing claims outside the insolvency estate.
Based on comparable cases, realistic recovery ranges are:
- early resolution: around 40%
- post-issue settlements: around 50%
- advanced cases: up to 60–70%
These figures are illustrative, not guaranteed. Outcomes depend on evidence, defendants, and how matters progress.
How the strategy works in practice
This is not a short-term process. It is a structured, multi-stage approach.
Indicative stages include:
- bringing together a significant value of assigned claims
- engaging with administrators and challenging proposals where appropriate
- moving the company from administration into liquidation if necessary
- securing disclosure and evidence through a new liquidator or the courts
- instructing solicitors and experts once the evidence is in place
- issuing claims against relevant third parties
- pursuing settlement or resolution
From start to finish, this process is expected to take several years.
Why acting together matters
In practice, individual investors acting alone have very little influence in insolvency.
By assigning claims to Insolvency & Law, noteholders combine their position into a single, coordinated block. This creates leverage, reduces duplication, and allows decisions to be taken strategically rather than reactively.
In addition, this means solicitors deal with one client and one strategy, keeping costs down and focus sharp.
Costs and alignment
Your exposure is capped at a one-off Assignment Fee.
Meanwhile, Insolvency & Law bears the ongoing cost and risk of investigation and litigation.
In turn, any recovery is shared, with 85% returning to investors and a 15% recovery fee payable to Insolvency & Law. Our return only increases when yours does.
Experience that matters
Insolvency & Law has spent more than 16 years working on complex insolvency and recovery matters.
This includes involvement in:
- a £6.5 million settlement against auditors of an insolvent insurance company
- a £24 million recovery against auditors of a collapsed bond-selling insurer
- £7.5 million recovered for 148 investors through claims against law firms
- full recovery of investor claims through insolvency-led action
These results do not guarantee outcomes here, but they demonstrate what coordinated action can achieve.
The reality
This strategy is not quick.
Moreover, it is not risk-free or guaranteed.
However, for many investors, it represents the only realistic alternative to accepting a minimal return through administration alone.
Invested in Godwin Capital No.8?
Next step for Godwin Capital noteholders
If you are a Godwin Capital noteholder and want to understand how the assignment process works, what participation involves, and the risks at each stage, you can contact Insolvency & Law for further information.
In addition, a clearer explanation of the process, timelines, and common questions will follow in the FAQ section below.
FAQs
Please do not respond to emails, letters, phone calls or other contact from any party claiming to recover your funds. It is more than likely a scam and you will certainly lose more money.
Therefore, only respond to Insolvency & Law, the Joint Administrators and the Joint Liquidators.
In fact, even we have received correspondence purportedly from the Official Receiver’s office. This too was a scam.
Please be careful.