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Liberty Sipp placed in default with nearly 1,700 pension claims
By Michael Klimes 26
The Financial Services Compensation Scheme has declared failed provider Liberty Sipp in default.
The update means 1,696 pension related claims against the firm can start to be settled in the near future.
All the claims are in some category of pension including Sipps, personal pension transfers or other pension advice.
Currently there about 1,100 under other pensions advice, 500 under Sipps and about 40 under personal pension transfers.
Money Marketing understands the vast majority of claims are in progress.
Liberty Sipp collapsed in April last year and its administrators have charged £347,328 to wind up the firm so far.
Liberty Sipp administrators charge nearly £350,000 so far
By Michael Klimes 12
th January 2021 12:56 pm
The administrators of collapsed provider Liberty Sipp have charged £347,328 so far to wind up the firm.
A progress report on Companies House dated December 2020 gives an update on how the work is progressing.
Andrew Poxon and Alex Cadwallader of Leonard Curtis Business Rescue and Recovery were appointed joint administrators in April last year.
This is when Liberty Sipp went into administration due to the volume of potential claims relating to high-risk non-standard investments.
In June 2020, the general body of creditors agreed the basis of the joint administrators renumeration fixed for an amount not exceeding £649,266.50.