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Global Trader Europe investors to get up to 95% compensation

Segregated fund clients of collapsed investment broker Global Trader Europe Limited will receive up to 95 per cent of their positions as at 15 February 2008 when the company went into liquidation.

Liquidator Smith & Williamson says it will distribute approximately £2m to the 160 segregated fund clients by the end of April, subject to any appeal or application.

S&W says the total final dividend for the 250 unsecured creditors is estimated to be in the region of 68 pence in the pound and they can expect payment by early May.

Smith & Williamson head of restructuring and recovery and joint liquidator of global Stephen Cork says: “We will now be in contact with all creditors who have already submitted a proof of debt.

“Any creditor who has not yet submitted a proof should do so as soon as possible, as we intend to make payments to creditors within two months from today, subject to any appeals.”


‘Sections of the RDR will be scrapped’

Lifesearch managing director Tom Baigrie believes the FSA’s retail distribution review will not be implemented in full.Speaking at this year’s Lifesearch Protection Awards in London last week, Baigrie said he believed only certain aspects of the review will see the light of day. He says the 2012 deadline will not be met, with a probable […]

Congestion charging

The FSA’s position on adviser charging is clear. It wants to see commission banned in its current form by the end of 2012. Dan Waters’ speech on January 16 at the Association of British Insurers’ conference is particularly illuminating.


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