4,000 UK firms at risk of failure due to covid
As FCA warns around 30% have ‘potential to cause harm’ if they closed down
Insolvency
-
-
Mini-bond firm trustee shut down
While administrators force company’s marketing unit into insolvency to recoup losses
-
FSCS opens to claims as Sipp firm enters administration
It became insolvent based on the potential claims over high-risk investments
-
Another mini-bond firm enters administration
It comes after a group of LCF investors launched a crowdfund campaign to challenge the FSCS
-
Insolvency law introduced in the UAE
It will support individuals facing existing or anticipated financial difficulties
-
Sipp provider told to refund nearly £1m to investors
Clients were left with no money after it made high-risk unregulated investments
-
UK regulator declares DFM insolvent
The Financial Conduct Authority (FCA) has declared discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, insolvent.
-
Harlequin Property creditors called to bankruptcy meeting
Creditors of stricken overseas investment scheme Harlequin Property SVG have been invited to a meeting on 31 March 2017 to vote on the appointment of a bankruptcy trustee and investigators.
-
Harlequin Property enters insolvency to ‘protect investors’
Harlequin Property SVG, the company behind the £400m ($509m, €454m) overseas property scheme, has officially entered insolvency proceedings, a decision likely to result in hefty losses for thousands of investors.
-
New UAE bankruptcy law to ease pressure to flee
The United Arab Emirates (UAE) is to get a new bankruptcy law for businesses, including a new regulatory body for financial restructuring, which is designed in part to remove the threat of jail for executives of companies facing financial distress.
-
Sipp provider European Pensions goes into administration
European Pensions Management (EPM), a UK-based self-invested personal pension (Sipp) provider with over 6,000 customers, has formally entered insolvency proceedings under the special administration regime.
-
Tax avoidance claims management firm Rebus in administration
Crowdfunded claims management company Rebus, which specialised in pursuing companies for mis-selling investments later deemed to be tax-avoidance schemes, has entered administration.