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investment company gone bust please help
yraunaj
Posts: 221 Forumite
the company we had investment in has gone bust is there anything we can do. thanks
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Hi whats the name of the company.0
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its a private company just friends and family, so no one should be concerned. just wanted to know if theres anything we can do0
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did it have FSA approval and FSCS protection?
Was the company the investment or did the company administer the investment?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
If the company your investment with has gone bust it will be up to the recievorship/bankruptcy company to decide if the shareholders will get any value back.
Very unlikely you will get any money back.0 -
its a private company just friends and family, so no one should be concerned. just wanted to know if theres anything we can do
What sort of investment did you have? Was their any formal paperwork or contracts? You have supplied far too little information for anyone to give you a definitive answer.
Sounds like they would be very unlikely to have any protection from FSA etc. You can claim an interest during their bankruptcy hearing, but I believe you will be classified as a very low priority creditor.
These are the risks you have to take when you invest with such companies.In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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