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Compensation hope for Honister customers 17 May 2013

Customers of Honister Capital, Sage Financial, Honister Partners and Burns Anderson who were mis-sold may be entitled to compensation despite previously having claims rejected.

The Financial Services Compensation Scheme (FSCS) has advised that all four companies of the Honister Capital group have now been declared in default, giving hope to hundreds of customers who were wrongly sold financial products.

In today’s statement, the FSCS said: “Those claimants who were clients of the appointed representatives (including those who previously had their claim rejected) are now being asked to contact FSCS so that their claim can be reconsidered.”

The administration of Honister Capital is being handled by Nigel Morrison, Alistair Wardell and Richard White of Grant Thornton.

Grant Thornton’s administrators today confirmed that unregulated collective investment scheme (UCIS) sales were carried out by the appointed representatives of Honister Capital.

Honister was based across three main locations, in Bristol, Hull and Macclesfield.

Nigel Morrison confirmed in July that the administrators would only be keeping on key members of the group’s workforce in order to assist with the wind-down of the business.

Honister was formed when the businesses were purchased from The Money Portal Limited in 2009.

The administrators have set up two hotlines for those affected by this situation: client/adviser help line 01482 385385/ 01625 667000 and employee help line 0845 3022540.



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