London-based Great Point Investments Limited has been placed under investigation by the Financial Services Compensation Scheme after the firm entered liquidation.
The FCA announced yesterday (August 5) that the firm, which is a UK alternative investment fund manager, had entered creditors’ voluntary liquidation on July 30.
Andrew Charters, Christine Laverty and Nick Nicholson of Grant Thornton LLP have been appointed as joint liquidators.
The firm provided discretionary and alternative investment fund management services through a range of investee companies operating in the global creative industries sector.
It managed the selected television production ‘EIS 6 fund’ and has been authorised by the FCA since July 2014.
It also provided discretionary management services to an estate planning service.
The regulator confirmed the joint liquidators would be writing to investors shortly to explain what the situation means for them.
The FSCS said it was now open to claims against the firm but highlighted these would not be passed on to the claims processing team for assessment until the lifeboat scheme had completed its investigation.
It said this would be a ‘complex investigation’ and anticipated working very closely with the joint liquidators.
Second firm enters liquidation
This comes after the FSCS also placed Lonsdale Insurance Brokers Limited under investigation last week (August 1).
The firm which was an FCA-authorised Lloyd’s wholesale insurance broker entered liquidation on July 24 with Neil Bennett, Alex Cadwallader of Leonard Curtis appointed as joint liquidators.
Lonsdale placed commercial business, including property, casualty, surety bonds, warranties and reinsurance, with insurance carriers on behalf of its clients.
The FSCS confirmed it would not be opening to claims against the firm at this time but said it would be working closely with the liquidators to understand what potential claims there may be against it.
alina.khan@ft.com
