View our online Press Pack. I asked how the money was invested and told it was the purchase at a lower price of unpaid invoices to a company in need of the money ASAP, then claiming the full value from the orginal debtor. It is important that you read this Fair Processing Notice so that you are truly aware of how and why we are using your data. We are individually licensed insolvency practitioners and supervised by the Institute of Chartered Accountants in England & Wales (ICAEW). Your browser does not support embedded videos. Please be aware that the system has limited functionality and, for instance, you will not be able to actually make withdrawals. Investment through the Basset & Gold Fixed Income Bonds involves lending to companies or individuals and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults and investors should note that it could take the time it takes to liquidate an asset held as security, such as selling a property, in order to get money back at an acceptable price. There is a dedicated voicemail facility and you will be able to leave a message if no one is available to speak to you. To see all content on The Sun, please use the Site Map. The mini-bond provider is believed to have around 1,800 customers who had collectively invested £36m. Whilst we have implemented a “work from home” policy, you will appreciate that we will not be in a position to respond to enquiries in the usual timeframe. B&G Finance Limited remains authorised by the FCA, albeit in administration, and remains subject to supervisory oversight and the FCA’s rules. Investors who have been mis-sold mini-bonds by the firm could be entitled compensation. Â Please refer to the Basset & Gold website for further updates. B&G Finance, which is regulated by the FCA, acted as an intermediary between the company and investors, arranging investments in the bonds sold by the company. Leave this blank if you'd like to publish your review anonymously. They were also appointed as joint administrators of B&G Finance Limited (B&G Finance), a related company, on the same date. Whilst the repayment dates have not yet been defaulted upon they will be in the future. The relevant FSCS eligibility criteria can be found on the FSCS’s website, www.fscs.org.uk/your-claim/eligibility-rules. Basset & Gold has gone into administration, after putting the majority of investors’ funds into payday lender Uncle Buck, which collapsed last week. The initial target for the business was to provide everyday investors with fixed interest returns, that were easy to understand, using fixed income investments with no additional fees involved. We can confirm that since our appointment to B&G, we have not received any returned loans or interest from Uncle Buck. The Company which is not regulated by the FCA, issued bonds which were sold to retail consumers. No direct links are provided to the investment opportunities on this website. As part of our role as Administrators, we may need to access and use data relating to individuals. The Joint Administrators are officers of the Court and need to comply with all insolvency law. Hope this provides more context. Before deciding whether or not to invest in any financial product, readers should either take professional advice from a regulated adviser or ensure they are able to make a fully informed decision themselves. A statement on Basset & Gold’s website revealed that Harrisons Business Recovery and Insolvency has been appointed as administrator of Basset & Gold and B&G Finance, a related company. Print Page. Basset and Gold not the first… XL, SBO Bet and Alpari have all gone into administration in recent years. This Fair Processing Notice supplements any other notices the Companies may have served on you and is not intended to override them. The administrators of collapsed West Ham sponsor Basset and Goldhave released their initial report. We to date have a 100% payment track record, and have a 98% recommended service rating from almost 200 of our investors. The same will apply in relation to B&G Finance. TV star reveals Portuguese ace had 'micropenis' that was like 'lost worm', Watch Demba Ba take advantage of ridiculous Man Utd defending to score opener, Humble Ronaldo happily waited 40 mins for table in restaurant & is 'decent boy', Ramos screamed ‘Get up you son of a b****’ at ex-Real Madrid team-mate Hakimi, Arsenal name three starlets in Europa League squad for Molde clash, ©News Group Newspapers Limited in England No.
The information on this website does not constitute a financial promotion. Note that as per a diagram in Appendix B, Basset & Gold = River Bloom = River Bloom UK Services = entities controlled by serial entrepreneur Hadar Swersky, which raised money from investors and loaned them to Uncle Buck, a company controlled by a Steven Murray. Given that the investigation into the failure of B&G and the inability of Uncle Buck, as the main borrower, to repay their loan is still in progress, it is too early for the Administrators to say categorically how much money will likely be returned to Bondholders (and other creditors) or when any payments will be made to them, an estimate cannot be determined at this time. Basset & Gold employed an independent firm to carry out a due diligence exercise into Uncle Buck.
Where financial firms enter into administration, experience is that fraudsters may sometimes approach investors claiming to be able to recover their investment in return for an advance fee. ( Log Out / The Administrators will also send regular updates via email, when there are matters that need to be brought to the attention of Bondholders. Please write to us or email us, with details of your claim, to the address below, together with the supporting paperwork. Since our previous update, we have been reviewing the information received from the administrators. The B&G Bonds are an example of a mini-bond. London based finance firm Basset and Gold had their prancing lion logo emblazoned on Hammers shirts since 2018 but it will be nowhere to be seen whenever the …
However, please note that a number of questions and answers in Section 1 to this document are also relevant to Bondholders. If you have not already done so, please complete and return a Proof of Debt form to the administrators, which can be downloaded from the Harrisons webpage: If you have not yet contacted the administrators regarding changes to your contact details, please do so by emailing the following: firstname.lastname@example.org. To inquire about a licence to reproduce material, visit our Syndication site.
Â. The mini-bond provider is believed to have around 1,800 customers who had collectively invested £36m. No bonds have been issued to retail investors from May 2019. Capital Way added to FCA scam warning list, Legend Lane files 2019 accounts, £186k in the red, “I’ve spoken to God and pulled my eyes out” – FSCS relying on gibberish transcripts, LCF investors say, We review World Property Fund – unregulated “hedge fund” paying 10% income per year, High Street Group loses rooftop showdown with creditor, subsidiary put into administration, Dolphin Trust is kaputt, FCA / FOS / FSCS confirm in joint statement, Back to the fuschia: Daily Mail in tone-deaf flower mini-bond push, We review Case To Answer – litigation funding investment paying 12% per year. Where financial firms enter into administration, experience is that fraudsters may sometimes approach investors claiming to be able to recover their investment in return for an advance fee. Uncle Buck was recently placed into Administration. To contact any of the Harrisons team, please use the details below: All Purpose Business Advice You Can Trust -, © Harrisons Business Recovery and Insolvency Specialists. The Joint Administrators will also commence work to identify all creditors of the Company in accordance with their statutory duties and obligations under the Insolvency Act 1986. ISA stands for Individual Savings Account and an IFISA is an Innovative Finance ISA. Paul Boyle, David Clements and Tony Murphy of Harrisons Business Recovery and Insolvency (London) Limited were appointed as joint administrators of Basset & Gold PLC (the Company) on 1st April 2020 (the Joint Administrators).