Money Marketing revealed last week that NDFA was on the brink of administration. Grant Thornton has been appointed administrator to both NDFA and its sister company Defined Returns Limited.
A Sesame spokesman says Sesame retains a shareholding in NDFA that was inherited through its purchase of DBS in 2001.
He says: “This is a passive investment and Sesame has no seat on the NDFA board and no active involvement in strategic or business decisions.
“Furthermore, there is no shareholder agreement in place and we are comfortable that the decision to place NDFA into administration will have no detrimental financial impact on Sesame. However, like any shareholder, we await the outcome of the administrator’s findings to see what happens next.”