Creditor's agree to appoint an Oxfordshire company to handle the liquidation of Ash Residential Property Management Ltd.

Three agents and its deposit protection and client money protection scheme providers are named in document.

Loophole in the CMP legislation has played its part in the situation some agents find themselves in, says Jenny Markham of The Letting Partnership.

Accounts for year ending May last year show company was lent the money via the HMRC's CBILS programme.

After nearly three weeks of nail biting, estate agents and landlords owed money by the property management firm will soon find out how much cash is left to repay them.

Approximately 8,000 properties and their landlords are also impacted by the problems at ARPM, which last week was reported to have ceased trading.

Robert May, who has many decades' experience in rent payment procedures and technology, says companies like ARPM have been allowed to carry on for too long largely unsupervised.

Troubled property management firm faces being put into liquidation, says Umang Patel.