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First liquidation of an Open Ended Investment Company 25 January 2010

The OEIC, known as the Arc European Property Fund, was an unregistered company that
raised £4 million in capital from some 300 UK investors to invest in the European property
market. In the last eighteen months, the value of the fund’s investments plummeted, due
mainly to the poor general performance of the European property market.

ReSolve is now tasked with protecting the fund’s assets from creditor action and preserving
any value in the assets until a full liquidation hearing takes place – due to be early March, at
which time it is anticipated that Cameron Gunn will be appointed permanent liquidator. At
this point in time assets will be sold for the benefit of the fund’s investors.

 

 

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