Is my capital permenantly lost?

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  • lukelee #11147

    Since the director is bankrupt and the company is insolvent, does that mean my capital is permanently lost?

    leotyndall #11149

    Dear Lukelee,

    No that is not the case, firstly if the director is bankrupt the trustee will assess the assets of the bankrupt and disperse them to all the creditors including ourselves.

    However if there are no assets, we will review our provision policies and if there is sufficient funds for the cover of the loss, firstly by us and then by the fund we will then pay out the principal, but interest will wait until the final resolution of the bankruptcy trustee.

    It is a slow process but rest assured we do our most to collect our entitlements for you.

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