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6 pension and finance companies placed in provisional liquidation

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6 pension and finance companies placed in provisional liquidation

 

Six companies have been placed in provisional liquidation following an investigation by the Insolvency Service.

 

The companies, involved in the operation of occupational pension schemes, were placed into provisional liquidation by the High Court.

 

They include Fast Pensions Ltd, which is the sponsoring employer of 15 pension schemes, and FP Scheme Trustees Ltd, which is the trustee of the pension schemes. The remaining four companies are entities into which some of the pension scheme funds have been invested.

 

The orders placing the companies into provisional liquidation followed a hearing at the High Court on 29 March 2018 of an application issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy.

 

READ MORE HERE: https://www.gov.uk/government/news/6-pension-and-finance-companies-placed-in-provisional-liquidation


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Pension company backing 15 schemes collapses

 

pension company acting as sponsoring employer for 15 retirement schemes has been placed into provisional liquidation alongside five other firms associated with it.

 

Fast Pensions and the trustee of the schemes, FP Scheme Trustees, were placed under the special measure following an investigation by the Insolvency Service and a hearing at the High Court on 29 March.

 

The Official Receiver has been appointed the provisional liquidator, meaning it is responsible for protecting the companies' assets until petitions to wind them up have been determined.

 

The remaining four companies are entities into which some of the pension scheme funds have been invested, including Blu Debt Management, Blu Financial Services, and Blu Personal Finance, and Umbrella Loans.

 

READ MORE HERE: https://www.ftadviser.com/article/62887/print-view


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I cannot give any advice by PM - If you provide a link to your Thread then I will be happy to offer advice there.

I advise to the best of my ability, but I am not a qualified professional, benefits lawyer nor Welfare Rights Adviser.

Please Donate button to the Consumer Action Group

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