Liberty Sipp wind-up to drag on another year
By Michael Klimes 8
th April 2021 3:34 pm
The administrators of collapsed pension provider Liberty Sipp have warned investors that its wind-up is set to drag on for another year.
An update on Companies House shows an extension of the administration was filed on 29 March, with proceedings finally set to conclude in April 2022.
Andrew Poxon and Alex Cadwallader of Leonard Curtis Business Rescue and Recovery were appointed joint administrators in April last year, when Liberty Sipp went into administration due to the volume of potential claims against it relating to high-risk, non-standard investments.
In June 2020, creditors agreed the basis of the administrators’ fees, which will be capped at £649,266.50.
Failed Liberty SIPP racks up almost 1,700 FSCS claims
Entered administration in April 2020
The FSCS said that no compensation has been paid out yet towards these claims.
Collapsed self-invested personal pension (SIPP) provider Liberty SIPP has received 1,696 claims against it, according to the Financial Services Compensation Scheme (FSCS).
According to a note published on Monday (25 January), the claim-embroiled SIPP provider officially failed this week after going into administration on 27 April last year following a number of high-risk.
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Liberty Sipp administrators charge nearly £350,000 so far
By Michael Klimes 12
th January 2021 12:56 pm
The administrators of collapsed provider Liberty Sipp have charged £347,328 so far to wind up the firm.
A progress report on Companies House dated December 2020 gives an update on how the work is progressing.
Andrew Poxon and Alex Cadwallader of Leonard Curtis Business Rescue and Recovery were appointed joint administrators in April last year.
This is when Liberty Sipp went into administration due to the volume of potential claims relating to high-risk non-standard investments.
In June 2020, the general body of creditors agreed the basis of the joint administrators renumeration fixed for an amount not exceeding £649,266.50.