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Audley Funding Bond NQ Minerals (in Administration)
Barrie5507
Posts: 10 Forumite
Has anyone tried to get information about getting our money back ..redemption date was 22 Feb 2022 ?
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Comments
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You have posted in the wrong section. The investment section would have been more appropriate.My understanding is that this was an unregulated extremely high risk investment (way off the conventional risk scale) with 100% loss potential and no FSCS protection. The sort of thing that is suitable for around 1% of the population with only 1-2% of your capital (i.e. multi-millionaire taking a dabble with a small amount). So, you would not expect to see much coverage of it on a mainstream consumer site.The company has gone into administration and is being liquidated. Generally, when that happens, there is little or no money available to pay to the creditors, and you would expect to find yourself with up to 100% loss. Although in this case, some assets have been sold and some money will be coming. So, your scale of loss is not possible to work out yet.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.1
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The full details can be found in the reports filed at Companies House for those with an interest in the matter, but it does not look likely that there will be any material distribution to the investors or any other unsecured creditors once the liquidation is completed.
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Moved to more relevant boardOfficial MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com0
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Thank you . I was sold this duff investment by a broker in the City !! can I claim against his personal insurance ?0
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Barrie5507 said:Thank you . I was sold this duff investment by a broker in the City !! can I claim against his personal insurance ?Was it a real broker or a fake one?How was it sold to you?It is not the sort of thing generally sold by regulated companies. However, it is often sold using unregulated people cold calling out of a boiler room.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.1
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I really like your style
It was a real one in a real office in the City but no longer there but I have tracked him down to a new venture
he is operating with all the bells and whistles of a proper set up !..he must have insurance ?0 -
If he appears on the FCA register then he is regulated and you can complain.If his old company is still trading, you would complain to that. If it isn't then you complain to the FSCS.
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.1 -
Any more updates on Audley Funding ?0
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Did you follow up on the broker?Barrie5507 said:Any more updates on Audley Funding ?0 -
Hi All
Anyone out there who lost on the Audley Funding /NQ minerals fiasco ?
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