UK - LCA-backed Living Villages enters administration

LCA, an AIM-listed investment fund managed by Low Carbon Investors, stated that despite good progress in the company's business plan, with land-bank values diminishing and bank credits lines for property developments being withdrawn it could not justify further capital investment. The investor had commited a total of £1.15m into the business, which will not be fully written down.

LCA has also announced a write-down against its investment in Classical Renaissance, a developer of Spanish community-scale sustainable villages, from £2.5m to £750,000.

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