Artis Finance - Administration

Artis Finance, a London-based non-bank lender providing receivables financing to mid-market borrowers, particularly in the commodity trading sector, entered administration on 3 March.

Ed Macnamara, James Cameron and Tom Crookham of PwC were appointed joint administrators.

The company has reportedly been impacted by the headwinds impacting the sector, and also suffered due to its December 2023 lawsuit against TMT Metals — a metals trader that Trafigura had accused of orchestrating a “systematic” fraud in the nickel market — as well as several companies reportedly connected to TMT director Prateek Gupta. The case stalled due to a freezing order obtained by Trafigura against Mr Gupta. 

U.S. Bank Trustees Limited has registered charges against the company, which was represented by Addleshaw Goddard.