Pension firms placed in liquidation

Pension and finance companies have been placed in provisional liquidation following an Insolvency Service probe. The six companies, involved in the operation of occupational pension schemes, were placed into provisional liquidation by the High Court.They included Fast Pensions Ltd, which was the sponsoring employer of 15 pension schemes, and FP Scheme Trustees Ltd, which was the trustee of the schemes. The remaining four companies were entities into which some of the pension scheme funds had been invested.The orders, placing the companies into provisional liquidation, followed a hearing at the High Court, on 29 March, of an application issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy. The six companies in provisional liquidation are: • Fast Pensions Ltd – company registration number 08121954 – was incorporated on 28 June 2012. The company’s registered office is at Crown House, 27 Old Gloucester Street, London WC1N 3AX • FP Scheme Trustees Ltd – company registration number 09126225 – was incorporated on 11 July 2014. The company’s registered office is at 20-22 Wenlock Road, London N1 7GU • Blu Debt Management Ltd – company registration number 06699233 – was incorporated on 16 September 2008. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ • Blu Financial Services Ltd – company registration number 05912973 – was incorporated on 22 August 2006. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ • Blu Personal Finance Ltd – company registration number 07758290 – was incorporated on 31 August 2011. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ • Umbrella Loans Ltd – company registration number 07331044 – was incorporated on 30 July 2010. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQThe 15 pension schemes involved are: • Broughton Retirement Plan • DM1 Retirement Plan • Elphinstone Retirement Plan • EP1 Retirement Plan • Fleming Retirement Plan • FP1 Retirement Plan • FP2 Retirement Plan • FP3 Retirement Plan • Galileo Retirement Plan • Golden Arrow Retirement Plan • Leafield Retirement Plan • Springdale Retirement Plan • Talisman Retirement Plan • Templar Retirement Plan • VRSEB Retirement PlanThe Official Receiver was appointed the provisional liquidator and has responsibilities to protect assets in the possession or under the control of the companies pending the determination of the petitions.A spokesman said: “As provisional liquidator of the trustee to the pension schemes the Official Receiver will take steps to protect the investments and assets in the pension schemes, will not make investment decisions during the period of appointment, is unable to provide updates regarding individual’s pensions or to authorise transfers out of the schemes or any payments out of the schemes, including death benefits [and] is unable to provide advice to pension members regarding their pensions.”

Pension firms placed in liquidation

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