As Woodford Capital is an unlimited company, it does not need to file accounts to show in which proportion the cash was distributed.
HSBC Private Bank declined to comment on the outstanding loan it issued to Woodford Capital in 2017.
Woodford Capital is a different business to Woodford Capital Management Partners, which is a business created by Neil Woodford and Craig Newman after the collapse of Woodford Investment Management as a vehicle to relaunch their careers.
Most recently, they have been working as an adviser to Acacia Research Corporation, a US investment firm specialising in early stage companies, and which has bought a number of such companies.
Investors in the Woodford Equity Income fund have been trapped in the entity since its suspension in 2019, receiving portions of their investment back since then, while Link, the company which administered the fund, will be making compensation payments in 2024.
FT Adviser made extensive efforts to contact Woodford Capital for this story, including visiting the address listed on the Companies House website, which is a serviced office premises, hosting mail boxes for many different entities.
We also wrote a registered letter to the company at that address, which was signed for by an individual on the premises on November 30, who is, to the best of FT Adviser's knowledge, not directly involved in the Woodford Capital business.
The letter provided the company with an opportunity to comment on all aspects of this story, with a deadline of 10am on December 4, 2023.
David.Thorpe@ft.com
