Thomas confirmed yesterday that a payment date for the victims of
Swindon-based Farepak savings club collapse had yet to have been set.
In a ministerial statement, Thomas said creditors, including customers, were
expected to get about 5p in every pound returned.
‘It is not yet possible to confirm when a payment will be made to customers,
as every agent and customer claim must be finalised before this can take place,’
he said. ‘All claims for money must first be verified and checked to ensure they
are not duplicated by agents and customers.’
Some 150,000 families lost about £40m in savings when the firm went into
administration in October 2006.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies