Did you invest through the ABLRate platform?

The Facts

Matthew Haycox was disqualified from acting as a director for 12 years in October 2010.  The Insolvency Service described his behaviour as ‘reckless’.

The Administrators Progress report for Huddle SPV 4 Ltd states that “we understand that an individual may have been acting as a de facto or shadow director of [Huddle SPV 4 Ltd]....   In addition, this individual (and entities owned by him and/or under his control appears to have been the beneficiary of significant loans from [Huddle SPV 4 Ltd].  Many of these loans remain outstanding…   We have recently presented a bankruptcy petition against this individual.” 

Mr Haycox was made bankrupt (for the second time) on 11-Feb-2025.  The petitioners for the bankruptcy were the Administrators of Huddle SPV 4 Ltd.

Lowry Trading Ltd and Scott Fletcher have brought a commercial fraud claim against Mr Haycox reported to be for £5.6m.

The litigation funding firm Manolete Partners have brought a ‘breach of fiduciary duty’ claim to court against Mr Haycox together with other current and former directors of AIF 1 Ltd.

The ABLRate update to investors (in relation to Access Commercial Investors 1 Ltd and Access Property Finance Ltd) dated 25-Jan-2023 states that “We had that call with the administrator representing DWF, a law firm that has appointed administrators over Access Commercial Investors 4 Ltd, and they feel that they might be seeking redress from the wider group”.

The most recent Administrators Progress Report for Access Commercial Investors 4 Ltd states that “Manolete are continuing to advance the claims assigned to them.”  Court listings now show Mr Haycox listed as a respondent in a case being brought by Manolete Partners against Access Commercial Investors 4 Plc.

The Administrators Proposals for Huddle Capital Group Ltd describe Mr Haycox as “an intermediary and introductory broker for both the ABLRate Companies and Huddle Capital Group Ltd.”

The most recent confirmation statement for Aviation and Tech Capital Ltd shows that Mr Haycox is the second largest shareholder in the company.

As at the Administration date, borrowers owed lenders of the ABLRate platform £21,484,607.  The Administrators described the estimated outcome in respect of loan investors as “currently unknown”.

The ABLRate platform was regulated by the FCA.

What are some of the obligations of an FCA regulated entity?

A regulated firm is bound by rule 2.1.1 of the FCA’s Principles for Business Handbook (“PRIN”). This rule sets out the high level standards expected by all regulated firms and included in these rules are the following:

2. Skill, care and diligence - A firm must conduct its business with due skill, care and diligence.

6. Customers' interests - A firm must pay due regard to the interests of its customers and treat them fairly.

7. Communications with clients - A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

A firm is also required to act in accordance with the rules set out in the FCA’s Conduct of Business Sourcebook (COBS), which include:

COBS 2.1.1R (1) “A firm must act honestly, fairly and professionally in accordance with the best interests of its client.”

COBS 4.2.1R (1) “A firm must ensure that a communication or a financial promotion is fair, clear and not misleading.”

Can Refundee help ABLRate Loan Investors recover some or all of their money?

The simple answer is that we don’t know.

But in 2024 we helped recover over £35m for our clients on a no win no fee basis.

If you are a loan investor with ABLRate, we’d like to see whether we can help you. If you are interested in talking with us, please get in touch by emailing cases@refundee.com and including ‘ABL’ in the subject of your email.

Who are Refundee?

Refundee are fraud refund specialists, and you can read about what our previous customers have said about us on Trustpilot. We’ve recovered millions for fraud victims in the UK. 

• Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096. 

• Registered with the Information Commissioner's Office; registration number: A8986071. 

• Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

• Registered as a company in England & Wales; number: 12855931.