Jim Tucker, Kristina Kicks and Joshua Dwyer from Interpath were appointed Joint Administrators to Stenn Assets UK Limited and Stenn International Limited (the ‘Companies’) on 4 December 2024, following an order made by the High Court of Justice in London.
The Companies are part of Stenn Technologies, the London-headquartered global fintech group and digital trade finance provider to International SMEs. The group employs over 200 people globally and since 2016 has deployed more than $10bn in capital to customers in over 70 countries.
The Joint Administrators’ immediate focus is to engage with the Companies’ employees, customers (and their debtors), suppliers and key stakeholders in order to stabilise the Companies’ operations and take all necessary steps to preserve value. Please note that the Joint Administrators will not be seeking to fulfil additional lending requests. Obligors should continue to fulfil their payment obligations in the usual way.
We have prepared a list of frequently asked questions (FAQs), which you can access here:
Important Update 31 March 2025
The Joint Administrators wrote to all Buyers and Suppliers with receivables payable to Stenn Assets Funding DAC on 31 March 2025 instructing each on next steps. If you have not received this correspondence and require a copy to be re-sent, please contact the following mailboxes:
Sellers / Suppliers: stennsellers@interpath.com
Buyers / Obligors: stennobligors@interpath.com
If you have any further queries or questions on the administration of either Stenn Assets UK Limited or Stenn International Limited, then please direct these to the following mailboxes:
Sellers / Suppliers: stennsellers@interpath.com
Buyers / Obligors: stennobligors@interpath.com
Creditors: stenncreditors@interpath.com
Employees: stennemployees@interpath.com
Notice to Creditors
On 22 January 2025, the Joint Administrators issued their Statement of Proposals (‘Proposals‘) to creditors of the Companies.
This document sets out the purpose of the administration and explains how the Joint Administrators propose to achieve this.
Our Proposals can be found on the Interpath portal below:
Notice to Buyers / Obligors of Stenn Direct Funding DAC
Please be advised that on 20 December 2024, Stenn International Ltd (in Administration) ceased to service receivables due to Stenn Direct Funding DAC. You should have received a notification from the new servicer, Atradius Collections, in respect of this change. All queries in relation to Stenn Direct Funding DAC should be addressed to them on sbs.collections@atradius.com.
Notice to Buyers / Obligors for the abundance of clarity, Buyers / Obligors of Stenn Assets Funding DAC should continue to make payments to Stenn Asset UK Ltd (in Administration) in line with previous correspondence and the FAQs linked above.
Scams
All buyers and sellers should remain alert to the possibility of fraud.
We will provide updates to you through e-mail, in writing and via uploads to the Stenn website (www.stenn.com).
Protect yourself from scams
When financial firms enter insolvency, fraudsters may seek to take advantage by approaching you and claiming to be able to recover their funds in return for an advance fee. Sometimes the fraudsters claim to be from the Companies or the Joint Administrators’ office. You should treat with caution any unexpected call, e-mail or other contact which asks you for money in this manner and do not be pressured into acting quickly. FCA guidelines are available at www.fca.org.uk/consumers/protect-yourself-scams
Clone websites - beware
Please note that the Joint Administrators‘ webpage is https://www.ia-insolv.com/interpathadvisoryinsolvency-portal.html and the Company’s website is https://www.stenn.com. These are the only webpages that will be used to provide updates and relevant information.
The affairs, business and property of the Companies are managed by the Joint Administrators. The Joint Administrators act as agents of the Companies and contract without personal liability.
The Companies are FCA registered for supervised anti-money laundering purposes only. FCA registration numbers: Stenn Assets UK Ltd: 922432; Stenn International Ltd: 745987. Registered office: C/O Interpath Ltd, 10 Fleet Place, London, EC4M 7RB.
James Robert Tucker, Kristina Kicks and Joshua James Dwyer are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England & Wales. We are bound by the Insolvency Code of Ethics.
