Fluid ISA Bond 1 Limited

Rob_ronson

pauline_88 said:

Thank you for update. I’ve not I’ve not received any form but I moved & did update them but not confident it will find its way to me. Do you have an email/phone number or address I can contact to chase? My 3 year bond was due to mature next month so I don’t want to miss out the opportunity of filling out a form? 

Hiya it’s 
Carl.Lever@leonardcurtis.co.uk

Rob_ronson

pauline_88 said:

Thank you for update. I’ve not I’ve not received any form but I moved & did update them but not confident it will find its way to me. Do you have an email/phone number or address I can contact to chase? My 3 year bond was due to mature next month so I don’t want to miss out the opportunity of filling out a form? 

Hiya it’s:

Carl.Lever@leonardcurtis.co.uk

pauline_88

Rob.. I emailed Carl and have now received and returned the Debt form. Not sure what should happen next? The company is still showing as active 🤷‍♀️

Rob_ronson

Hi Pauline..
my understanding now is that it’s a case of sitting it out and awaiting the outcome of investigations into the practices of the company and associates.
I understand from others on here that it is due process for the liquidators to request individuals to provide details of outstanding debt as part of their investigation.
I wish I could tell you more 😢

masonic

It would appear they are having difficulty identifying the creditors, so formal communication of the intention to enter voluntary liquidation is presumably being delayed.

pauline_88

Just received an email today.. sadly not good news 🥹🥲
..”I can confirm that Fluid ISA Bond 1 Limited entered into creditors’ voluntary liquidation on 31 March 2022. Based on current information, we do not anticipate there to be any funds available to pay the unsecured creditors of Fluid ISA Bond 1 Limited. We will be writing out periodically to creditors with updates on the liquidation, and should this position change, you will be notified.…

masonic

https://www.thegazette.co.uk/notice/4046635

(separate notices also published for Fluid ISA Bond 2, Fluid Finance and Fluid Lending)

Although the notice is dated 13th April, it definitely wasn't there two days ago at the time of my last post.

masonic

Statement of Affairs is now available via Companies House: https://find-and-update.company-information.service.gov.uk/company/11429452/filing-history/MzMzNzA2MTgwNWFkaXF6a2N4/document?format=pdf&download=0

Makes grim reading for bondholders. Just under £3 million in assets written down to <£1000. Bondholders owed over £3m. That's a loss of 99.97% before fees. Liquidator fees are likely to exceed assets, so it will be a total loss for bondholders.

Over at Fluid Lending Limited, there is only £140k of outstanding loans, presumably the other £3m+ has already defaulted and been written off. The company went into liquidation owing wages to employees and tax to HMRC, so they will rank ahead of Fluid ISA bond 1 limited. Liquidator fees will likely mop up anything else that is left.

emz1968

How utterly depressing 🤬🤬🤬🤬🤬

jimjames

Looks like 253 people have lodged claims of £1.8m in total so some way off the £3m. I wonder if there are more than don't know about it yet.

emz1968 said:

How utterly depressing 🤬🤬🤬🤬🤬

But sadly not surprising with yet another unregulated minibond going bust. You can see why FCA finally moved to shut that sector down.