Tenon Recovery appointed Administrators of Shakespeare Underwriting
Administrators Dilip Dattani and Patrick Ellward of Tenon Recovery were appointed over Shakespeare Underwriting on 23 January 2006 and are looking to sell the business. The Administrators will pursue their investigations into the cause of the company’s demise and are liaising with the Financial Services Authority (FSA) to assess adherence with compliance and regulatory issues.
The demise of the company has been attributed to a poor trading performance in 2005 and certain investments which suffered losses. The business appears to have a shortfall in excess of £1.5m
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