Masthaven Bank announced its intention to withdraw from the UK banking market in February 2022. As part of the orderly solvent wind-down, and following the cessation of regulated activities, the company surrendered its regulatory licenses and sold its intellectual property rights and loan book to a third party.
As a result, the company has changed its name to Genclose Limited (formerly Masthaven Bank Limited and Masthaven Limited).
On 15th November 2024, the company entered Members Voluntary Liquidation and James Miller and Graham Bushby of RSM UK Restructuring Advisory LLP were appointed Joint Liquidators of Genclose Limited (formerly Masthaven Bank Limited and Masthaven Limited). The Joint Liquidators contract as agents of the company and without personal liability, unless specifically stated otherwise. James Miller and Graham Bushby are licensed to act as Insolvency Practitioners in the UK by the Institute of Chartered Accountants in England and Wales.
Any queries can be directed to masthaven.restructuring@rsmuk.com.
The company repaid all customer deposits and established an independent Trust arrangement, managed by a professional Trustee, ZedraTrust Company (UK) Ltd (“Zedra”) (https://www.zedra.com/about/the-zedra-story/), to enable the repayment of a small number of deposits it was not able to repay. If you were one of the depositors (or personal representative or estate) that the company was unable to repay, please contact Zedravia email masthavenenquiries@zedra.com, by telephone on 01565 748808 or by post at Booths Hall, Booths Park 3, Chelford Road, Knutsford, Cheshire, WA16 8GS.
Please be aware, when contacting Zedra that they will need to be satisfied that you are a beneficiary under the Trust and will need details such as your name, address and account number(s). You will also be required to evidence your identity and may need to provide certain other information and/or documentation relating to your historic account with Masthaven Bank for Zedra to be able to release funds to you. If you were not the account holder (for example, you are the personal representatives of a deceased account holder), Zedra will still require information about the account holder, as well as documentation to evidence that you are entitled to the money that is held in Trust for the account holder.
The mortgage, bridging and development finance customers whose accounts were transferred to a new mortgage provider and/or data controller received a letter from the company in September 2022, April 2023 or December 2023 detailing how to contact their new provider.