NDFA to recommence income payments
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NDF Administration will begin processing some income payments for clients after obtaining a FSA waiver to resume trading under the direction of administrator Grant Thornton.
Grant Thornton says the firm will begin to return monies within the next few days where investments have recently matured or individuals cancelled a planned investment or had invested in the defined income plan August 2009, processes which had all been suspended until now.
Opal is facilitating the processes and Grant Thornton is currently in discussions with alternative plan managers to secure the ongoing administration of products to maturity. It says discussions are progressing well and it is confident that an alternative plan manager will be secured.
Grant Thornton partner Andrew Hosking says: “I am delighted that following completion of various reconciliations and related processes a waiver has been obtained from the FSA to enable NDFA to continue to operate under the administrators’ direction.”
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