Devonport Capital Limited - Administration

Devonport Capital Limited, a Plymouth-based investment firm, entered administration on 27 February.

The company, which provided loans to small and medium-sized businesses operating in emerging economies, had ties to the royal family — Thomas Kingston, husband of Prince and Princess Michael of Kent’s daughter, was a director of the company from 2017 until his death last year.

Michael Goldstein, Avner Radomsky and Charlotte Jobling of RG Insolvency were appointed joint administrators in the wake of Mr Kingston’s death and after two significant loans (a total of approximately £60 million) went into default. The company has nearly £30 million in unsecured claims, but £32 million is expected to be realised as part of the administration.