Coots & Boots has provided counsel on the trading position and ongoing developments surrounding GVE London Limited, the high-profile, high-end luxury car dealership known for trading supercars and hypercars to the rich and famous on a ‘sale or return’ (SOR) basis.

The directors of GVE London approached Coots & Boots seeking urgent advice, owing to the firm’s recognised reputation for handling complex, high-value insolvencies within the automotive and luxury asset sectors.

Following an initial assessment, Coots & Boots identified serious concerns regarding the company’s financial stability, operational controls, and creditor exposure.

“We were deeply concerned by what we uncovered. In our professional view, the company was in imminent financial danger and could not continue trading safely without risking further harm to creditors, customers, and stakeholders. Situations involving high-value supercars, complex SOR disputes, and cross-stakeholder exposures require a high level of specialist expertise. We therefore strongly recommended that the director take immediate steps to safeguard customers’ cars and company assets,” said Duncan Coutts, a licensed insolvency practitioner at Coots & Boots.

“We advised the director on the legal and practical implications of administration and assisted in preparing and serving a Notice of Intention to Appoint Administrators (NOI) on the secured charge holder. This statutory notice temporarily halts creditor enforcement, providing essential breathing space to assess options. Coots & Boots were not appointed to lead the process, due to a conflict of interests, with GVE London choosing a regional firm based in West London,” concluded Duncan Coutts.

Coots & Boots has no ongoing role in the administration of GVE London and will not be providing further comment.