SRC Transatlantic Limited – in Administration

Unfortunately due to the recent UK outbreak of COVID-19, following the guidance from the UK government and in the interest of the health and well-being of both our staff and wider communities, we have had to take the decision to suspend the SRC customer service telephone lines from 5pm on Friday 20th of March. We sincerely apologise for the inconvenience this may cause.

At this moment we are unable to provide a timescales as to when customer service telephone lines may be available again, as such, we would advise all customers who wish to contact us that the FAQ section of our website provides updates and answers to most common queries at www.KPMG.co.uk/src. Alternatively customers may contact our customer service team through email at customerservice.src@kpmg.co.uk.


SRC Transatlantic Limited (in Administration) - "SRC"
Court number 1419 of 2019
Joint Administrators - Howard Smith and Ed Boyle

Howard Smith and Ed Boyle were appointed as Joint Administrators of SRC Transatlantic Limited on 25 February 2019. SRC formerly traded from a small number of high-street stores under the brand Speedy Cash, and stopped lending in 2017.

Customer loans

The Joint Administrators have contacted customers whose loans have been sold by email or letter, and customers will have also been contacted separately by Lantern who are administering these loans from now on.

The Joint Administrators have ceased collecting the remaining part of SRC’s loan book that was not sold to Lantern.

Creditor claims

The Joint Administrators set a deadline for customers to submit redress claims in the Administration as 23:59 hours on 31 July 2019. This deadline has now passed and you are no longer able to submit a claim in the Administration.

Distribution

A first and final dividend was declared and paid by the Joint Administrators on 17 February 2020.

If you submitted a claim in the Administration of SRC and if your claim has been accepted, then you will have received a letter from the Joint Administrators sent on or shortly after 17 February 2020. If this is the case, then a dividend is being paid to you and the letter sets out the amount that will be paid.

General Customer FAQs and specific Distribution FAQs can be accessed through the links below (within 'Statutory notices and reports'). These FAQs have been prepared to provide guidance across a number of typical queries, including repaying a loan, credit history updates, entitlement to redress, and the claim and distribution processes in the Administration.

A selection of FAQs that you may find helpful, which are also included in the full list, are:

  • Q: What will happen with my current loan?
  • Q: Can I still submit a claim now?
  • Q: When will I receive my dividend?

Alternatively, specific mailboxes have been set up if you have any of the following queries:

Alternatively, the customer service centre can be contacted by calling 0330 094 5695 or emailing customerservice.src@kpmg.co.uk.

Please note, the customer service centre is currently receiving a high volume of enquiries. Please therefore review the Customer FAQs available on this website to see if your query can be dealt with before contacting the customer service centre.

Statutory notices and reports

Frequently Asked Questions 
Frequently Asked Questions - Distribution 
Press release 
Notice to creditors of right to elect to become an opted-out creditor 
Notice to creditors - revoke decision to be opted-out creditor 
Notice of Appointment to creditors 
Notice of Joint Administrators Proposals 
Joint Administrators’ Proposals 
Creditors request for a physical meeting 
Proof of debt form for use by non-redress creditors 
Notice of seeking decision by correspondence 
Claim form for use by redress creditors 
Notice of approval of Administrators' proposals 
Notice of extension of Administrators' term of office 
Notice of proposed distribution 
Notice of Administrators' progress report 
1st Progress Report 
Fee estimate report 
Notice of vote 
Form AM10 - Notice of Joint Administrators' Progress Report 
2nd Progress Report 

Howard Smith and Edward George Boyle 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.

The Officeholders are Data Controllers of personal data as defined by the Data Protection Act 2018. Personal data will be kept secure and processed only for matters relating to the appointment. For further information, please see our Privacy Policy.


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Customer Service Centre:

Tel +0330 094 5695


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