On 12 September 2019, Supercapital ceased to provide any regulated business and Supercapital has updated its website to this effect.
On 27 September 2019, the director of Supercapital Limited placed the company into administration. Kevin Goldfarb and Stephen Hunt, both licensed insolvency practitioners and partners in Griffins, have been appointed as joint Administrators. As Administrators the affairs, business and property of the company will be managed by them.
The company safeguards money for clients in relation to payments services provided by the company and one of the first actions of the Administrators is to secure and preserve those monies. The Administrators will ensure that the management and treatment of those client safeguarded funds is undertaken in compliance with the appropriate regulations.
Whilst every endeavour will be made to return funds to clients as soon as possible it will be necessary for the Administrators to reconcile the balances and ensure that the necessary due diligence and know your client information is present, current and correct. That process will be undertaken with the utmost care and diligence to ensure that funds are correctly returned.
Unsecured creditors can access further information about administrations and their rights in a free publication produced by R3. See https://www.r3.org.uk/media/documents/publications/professional/Creditors_Administration.pdf
How to claim
The Administrators will gather as much information as possible from clients and creditors about payments made to, or owed by, the company. We ask that anyone who believes that they are owed money by the firm, or that the company is holding safeguarded funds for them relating to payment services, should contact email@example.com with the following information as soon as possible:
Client reference number;
Copy agreement with the company;
Full name, postal address and contact details;
A summary of the claim with, where possible, supporting documents (such as a copy client statement).
Trade creditors should provide copy invoices and where available an account statement.
The Administrators’ work to protect the interests of the company’s clients and creditors is on-going.
Griffins has also established a dedicated phone line for clients and creditors with an automated message. The number is 0207 554 9636.
Being Alert to Scams
All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Supercapital, Griffins or the FCA, please end the call and call them back using the number above. More information about this can be found on the FCA website at https://www.fca.org.uk/consumers/protect-yourself-scams.
Are my funds protected by FSCS?
No. The Financial Services Compensation Scheme (FSCS) only applies to certain types of activity. This does not include payment services.
Under the Payment Systems Regulations, there are requirements on how customers’ money should be protected and these requirements are known as ‘safeguarding’.
Further details of what is covered by the scheme can be found at www.fscs.org.uk