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Quantuma managing director Rehan Ahmed has been appointed to work on the administration of collapsed peer-to-peer lending platform The House Crowd.
Ahmed is an insolvency practitioner working within Quantuma’s restructuring and insolvency team.
His appointment was disclosed in documents filed with Companies House.
Read more: The House Crowd administrator awaits court clarity on distributions
He works across the advisory firm’s Leeds and Bradford offices and with its team in Dubai, according to Quantuma’s website.
“Having run his own practice, Rehan is able to relate to many directors and shareholders in understanding some of the smaller, practical issues they may come across when undertaking certain procedures and processes,” Quantuma said. “He is often able to implement the legal procedures in a more practical and constructive manner to the business owners.”
The House Crowd fell into administration in February 2021 due to ongoing financial issues facing the company.
Frank Ofonagoro, Jeremy Woodside and Frank Wessely at Quantuma were appointed as administrators that month.
The House Crowd administration process has been lengthy, with the end date pushed back a number of times.
In its latest six-month update in October, Quantuma said that the administration process faces “unavoidable significant increases in cost” and extended the end-date by at least another six months to 23 February 2024.
Quantuma had received almost £1m in fees as of the latest update.
Quantuma has been contacted for comment regarding Ahmed’s appointment.
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