T&T Trustees Appoint Administrators to 79th Luxury Living Six
Are Investor Interests Being Protected? A New Twist in The 79th Group Saga

Loan note holders in 79th Luxury Living Six Ltd (LL6) were recently informed that T&T Trustees, the appointed security trustee for several of The 79th Group’s investment vehicles, has unilaterally appointed administrators to take control of the company.
Moreover, rather than offering clarity, this unexpected move has triggered fresh concerns about T&T Trustees’ transparency and whose interests they are truly protecting.
Who Are the Administrators and Why Now?
Without prior notice or consultation with the loan note holder community, T&T Trustees appointed two administrators from Belfast:
- Stephen Arthur Cave
- Gareth William Latimer
of Grant Thornton Advisors (NI) LLP
The appointment was made using an out-of-court procedure under T&T’s powers as a Qualifying Floating Charge Holder (QFCH).
This action is particularly notable because T&T Trustees have repeatedly stated that they cannot act without instructions from a Lender Majority Group (LMG). Yet, now, without convening or consulting such a group, they have taken a significant step independently.
What Is a Lender Majority Group and Why Does It Matter?
The Lender Majority Group (LMG) is intended to represent the collective will of a majority of loan note holders. Trustees generally rely on the LMG to provide instructions on major decisions that affect secured assets, restructurings, or enforcement actions.
This framework exists to ensure that a trustee does not act independently or in a manner that conflicts with investor interests.
If T&T Trustees genuinely could not act without the LMG’s direction in previous instances—such as investigating missing assets or initiating recovery—why have they now made such a decisive move without first reconvening the group?
This inconsistency suggests T&T Trustees may have previously used the LMG as a convenient barrier to delay action or avoid scrutiny. The timing and lack of consultation suggest this recent move may serve interests other than those of investors, potentially including insulating The 79th Group from investigation or legal exposure.
T&T Trustees’ Silence Raises Red Flags
To date, T&T Trustees have made no public disclosure regarding:
- The total value of loan notes in circulation
- The current status or value of the secured assets
- Whether those assets remain recoverable
- Whether the appointment of administrators serves the best interests of investors—or protects The 79th Group from further scrutiny
Without an independent valuation and full disclosure of secured assets, this decision appears questionable. Investors deserve transparency, not vague or delayed explanations.
Are T&T Trustees Meeting Their Legal Duties?
Security trustees such as T&T have clear responsibilities under UK trust law and the terms of the trust deed. These include:
- Acting in good faith and in the best interests of the beneficiaries in this case, the loan note holders
- Managing and enforcing security over assets transparently and impartially
- Providing timely disclosures and updates to beneficiaries on material developments
- Avoiding conflicts of interest and any actions that could compromise their independence
If a trustee fails to fulfil any of these duties particularly by making unilateral decisions without investor consultation or withholding material asset information—they may be exposed to legal claims for breach of fiduciary duty or negligence.
T&T’s ongoing refusal to publish an asset schedule, disclose valuations, or explain its sudden change in position raises serious concerns. This lack of transparency could indicate a failure to meet their obligations to investors.
Is the Security Trust Structure Fit for Purpose?
It is important to note that T&T Trustees were not appointed by the investors, but by the scheme operators. Yet they are the sole custodians of investor security.
The current trust structure appears to offer the illusion of protection, without effective investor control or enforceability. However, many investors now believe the trustee framework has been used to delay, deflect, and ultimately deny redemptions.
If T&T Trustees are genuinely acting in the interests of loan note holders, key questions must be answered:
- Where is the asset schedule?
- Where are the independent valuations?
- Where is the transparency that was promised to investors?
What Should Investors Do Now?
Insolvency & Law Ltd urges all investors particularly those exposed to 79th Luxury Living Six Ltd to take the following steps:
- Demand Full Disclosure from T&T Trustees:
- A clear statement of total loan note liabilities
- Independent valuation reports for all secured assets
- A complete explanation for the decision to appoint administrators without consulting the LMG
- Withhold recognition of T&T Trustees as legitimate protectors of your interests unless and until full transparency is provided.
- Join a coordinated group action through Insolvency & Law to hold responsible parties to account and recover misused or lost funds.
Why Act with Insolvency & Law?
Insolvency & Law Ltd has a successful track record in:
- Recovering investor funds from failed and mismanaged schemes
- Challenging flawed or misleading trust structures
- Litigating against negligent trustees, scheme operators, and financial advisers
We are already representing a growing number of investors involved in 79th Group investment vehicles and are actively preparing legal actions to secure justice and compensation.
Frequently Asked Questions (FAQ)
Q: Can a trustee appoint administrators without consulting loan note holders?
A: It depends on the trust deed and the trustee’s legal powers. However, taking such actions without transparency seriously undermines confidence in trustee conduct and calls into question whether they are upholding their fiduciary duties.
Q: What rights do investors have to challenge the trustee?
A: Investors may challenge the trustee through legal proceedings if it appears the trustee has acted improperly, failed to disclose key information, or breached its duties under the trust deed or UK trust law.
Q: Can I still recover funds if the company is in administration?
A: Yes. Legal recovery is still possible through civil action, especially when coordinated through group litigation strategies. Early engagement improves your chances of success.
Contact Us Today
This is your investment, your future, and your right to accountability. If you’re affected by these developments, speak to our team today.
Email: [email protected]
Call: 020 7504 1300
Web: www.insolvencyandlaw.co.uk
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