This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+Cover+small+181214

RJ Temple creditors are owed more than £1.5m

  • Print
  • Comment
Angela Henshall

Creditors of the collapsed IFA RJ Temple are owed over £1.5m, say liquidators KPMG.
Those listed at a meeting last week to decide how the remaining £600,000 of company assets will be distributed include Allied Dunbar, the Inland Revenue and BT Contract Rentals.
A document from this meeting seen by Money Marketing shows the total bill owed to unsecured creditors is more than £1.5m. The Revenue, owed £126,135, will be the first creditor to be paid followed by any unsecured creditors.
If any assets remain after this point, the preference shareholder is Alexander Rich-ard Holdings, a non-trading private firm whose chairman is RJT founder Richard Temple.
As revealed in MM, the Financial Services Compensation Scheme will pick up the tab for any future compensation claims made by investors against RJT.
KPMG liquidator Finbarr O'Connell says: "Certain creditor claims will be subject to mitigation, property leases, for example. The total trade and expense could increase or decrease so these will not be final figures."
Former RJT chairman Geoffrey Morphitis says: "We do not know what we will be left with after liquidation but there will be no money for RJT shareholders."

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

AXA Wealth


Fund Data

Editor's Pick



Poll

Will providers be forced to pay out compensation over annuity misselling?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments