Number of creditors for Henry Construction Projects could top 5,000, says administrator

The administrator of collapsed London high-rise builder Henry Construction Projects has said there could be more than 5,000 unsecured creditors of the business.

In an update to Companies House this week, administrator FRP again said there is a chance unsecured creditors could get some money back.

Henry collapsed in June 2023 owing dozens of firms a total of more than £43m with eight firms each owed more than £1m.

In its latest update, FRP added: “If sufficient funds are available to make a distribution to the unsecured creditors the office holder will write to all known creditors to notify of the possibility of a distribution and requested submission of claims. The administrators are aware of more than 5,000 potential creditors according to the information currently available.”

FRP has previously said the amount of funds available will depend on how successful it was in chasing £31m in claims against the firm and members of the Henry family.

FRP has begun proceedings to try and recover three tranches of money, saying the three claims are now being case managed together and “that there will be one single trial encompassing all three claims should the cases proceed all the way to trial”.

In the latest update, the firm said: “The administrators have continued to engage with their solicitors and the defendants’ solicitors in respect of the legal proceedings. The next procedural step in the legal proceedings is the case management conference at which directions leading up to the trial will be set out.”

The administration has already been extended until June next year which FRP said was to deal with “the numerous ongoing and lengthy workstreams required”.

In previous updates, FRP said it took four months to download the firm’s electronic records and criticised Henry’s record keeping. It added the firm had “numerous bank accounts”.