Satchi Holdings ISA Problems

Jonr1958

Has anyone else had problems with trying to withdraw their money 

dunstonh

Never heard of them before but a quick look via google indicates that the Satchi investment offering was non-mainstream, very high risk and illiquid investments.

Basically mini bonds with no consumer protection and 100% loss potential of the type are not suitable for 99% of the UK population.

https://www.bondreview.co.uk/2019/05/14/we-review-satchi-wealths-bonds-paying-8-5-per-year/

The ISA manager was Northern Provident who ceased trading and went into liquidation last year.  They were ISA manager for a number of failed investments not designed for retail investors.

I can't see the current status of this mini bond but accessibility problems are usually a sign of a problem with non-mainstream illiquid high-risk assets like this.

masonic

Most likely all investors are facing problems getting their money back. Good luck, but things don't look good. Accounts are almost 6 months overdue (it has never filed accounts since incorporation in 2019), all but one director has resigned (technically in contravention of the requirement of PLCs to have a minimum of two directors). Looks like it has some significant secured debts, which may rank ahead of your investment.