Prestbury hit with winding up order

In a statement to the London Stock Exchange, the company says it had encountered difficulties transferring a number of its appointed representatives (ARs) to Personal Touch Financial Services - as agreed back in September. It says the ARs have either decided to transfer to a different company or have not reached acceptable commercial terms with PTFS. In addition, life companies have made claims for clawback commissions in respect of policies written by ARs which have now been cancelled. This has led to those life firms withholding payment of commissions which were expected to be recei...