The 79th Group

The 79th Group's administration in the United Kingdom is the subject of recognition proceedings under section 269 of the Bankruptcy and Insolvency Act in the Ontario Superior Court of Justice (Commercial List), court file CL-25-00753552-0000. Andrew Stoneman and Robert Goodhew, administrators of eight UK group companies, applied by notice of application issued October 28, 2025 for recognition of the administration as a foreign main proceeding and a receiver over four Canadian entities: 79th GRP Ltd., Lusso Tesoro Ltd., 79th Resources Ltd. and Seventy Ninth Corporation. The court made its initial order on November 19, 2025, with TDB Restructuring Limited as receiver. The group raised more than £200 million from more than 2,500 investors, primarily through loan notes. The administrators trace approximately £6.5 million of transfers from the administration companies to the Canadian entities and assert those funds are held in trust for them.