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Welcome to the Buy 2 Let Cars Investor & Creditors Group

If you have been affected by the Buy2LetCars failure into administration and have outstanding Debt or Loans with any of the companies in the Raedex Consortium Group (henceforth ‘RCG’) which includes Rent 2 Own Ltd (07631460) trading as Wheels4Sure, Buy 2 Let Cars Ltd. (07631458) and Raedex Consortium Ltd (07951186) in Administration with RSM, then you are in the right place.

This website is set up and maintained on a voluntary basis by other significant investors in this group , with the goal of collectively representing investors & creditors in order to find the best possible outcome for all and providing regular updates.

The Buy2Let Cars Investor Help Steering Committee (SC known as Action Committee, Action Group) meets weekly and supports a hub of over 200 Investors so far and growing. Details about the SC are on the About page.  The group exists on WhatsApp and the SC distributes a weekly email newsletter.

The purpose of the Steering Committee

The purpose of the SC is to organise and encourage the broader B2L investor & creditors community to work together as a group. Working together significantly improves our chances of a successful outcome, and will help reduce Administrator fees, by channelling the group’s questions via the SC.

We have already consulted with lawyers and specialist insolvency practitioners. Based on the advice obtained we are focusing on the following priorities:

  1. Data collection – we need to build an independent picture of how many Lenders and Lessees exist*
  2. Maintain a dialogue with the Administrators (RSM)
  3. Identify relevant experts to provide legal advice and 2nd opinion on RSMs proposed plans
  4. Prepare for a potential crowdfunding campaign in case we need to cover any costs

 Currently we await the SFO report and will provide email updates when we know more. 

Investor Actions:

– Submit Proof of Debt to the Administrators ASAP (available on the resources page)

– Check out the Questions, Resources, FAQ pages which will be updated periodically when new information is available.

– If you have a question on the RSM report, check the Questions page first, then ask the SC.

– Do not contact RSM directly, to save on their costly admin time.  Ask us.

 

Contact Us:

If you would like to volunteer, put yourself forward to the SC, or have other questions, please contact B2LAction group via email:

admin@buy2letcarsinvestorhelp.co.uk

Note, this is a volunteer effort, so email replies may take 24 hours.

 

*Any information provided will only be used for the purposes of pursuing recovery strategies and all data will be stored and managed using best practice data management rules. The SC will plan to re-confirm its mandate before any major action is taken. All Investors will reserve the right to pursue their own actions independently of any actions that the SC take.