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.
FSCS declares 14 firms in default including Liberty Sipp
By Sonia Rach 4
th March 2021 12:39 pm
The Financial Services Compensation Scheme has declared 14 firms in default, including Liberty Sipp, Pembrokeshire Mortgage Centre Limited and Copia Wealth Management Limited.
People who have dealt with the firms and believe they are owed money as a result, can now make a claim to the FSCS.
Pembrokeshire Mortgage Centre Limited and Copia Wealth Management Limited bot entered liquidation in September 2020 and were also included in the default list today.
Floyd Paterson, the sole director of Copia had at the time appointed Alex Kachani of Crawfords Accountants in Manchester as liquidator. The FCA described Copia as an independent financial adviser which acted as Isa manager.
FSCS names 14 firms in default
By Leah Milner 4
The Financial Services Compensation Scheme has declared 14 firms in default in January and February.
Among the companies named is Pembrokeshire Mortgage Centre, which was based in Swansea and also traded as County Financial Consultants.
Customers who have dealt with any of the firms and who believe that they may be owed money can now make a claim for compensation to the scheme.
The remaining 13 firms listed are: Inspired Wealth Limited in Birmingham; Copia Wealth Management Limited in Manchester; Atlas Travel Insurance Services in London; Grosvenor Financial Consultants Limited formerly Decormore Limited in York; RHT Financial Services Limited in Leeds; Liberty Sipp Limited trading as Liberty Pensions in Bury; Red Kite Finance Limited formerly Thorpe Park Finance Limited in Leeds; Prometheus Insurance Company Ltd in Gibraltar; Gardner Massey Wright IFA Limited trading as Eskdene Associates inWigan; Seq
Liberty Sipp placed in default with nearly 1,700 pension claims
By Michael Klimes 26
The Financial Services Compensation Scheme has declared failed provider Liberty Sipp in default.
The update means 1,696 pension related claims against the firm can start to be settled in the near future.
All the claims are in some category of pension including Sipps, personal pension transfers or other pension advice.
Currently there about 1,100 under other pensions advice, 500 under Sipps and about 40 under personal pension transfers.
Money Marketing understands the vast majority of claims are in progress.
Liberty Sipp collapsed in April last year and its administrators have charged £347,328 to wind up the firm so far.