ASTL suspends Amicus Property Finance's membership

Benson Hersch, CEO of the ASTL commented: “The membership of Amicus plc has been suspended by the ASTL whilst the company continues to consider its position, and future.”

Amicus Property Finance confirmed on Monday that it has halted lending after failing to work out a deal with a suitable investor.

Andrew Bullock, head of communications at Amicus, confirmed that Amicus Property Finance had stopped lending but said that there was "no substance" to Mint Bridging's claims of a takeover offer.

In a statement, Amicus said: "After failing to work out a deal with a suitable investor to the satisfaction of its shareholders, Amicus Property Finance will not be able to continue lending, although it will continue to support the facilities in place.

"Mint Bridging have made no formal approach to Amicus Finance plc and as such, the claims made are factually incorrect. Amicus is taking advice on next steps."

Mint says it is "keen to make a strategic investment in the company and will equally consider the acquisition of its entire loan book".