All 11 of the Arch cru fund cells have been suspended from the Channel Islands stock exchange (CISX) after auditors said they could not find enough evidence of yearly cash flows.
The securities were suspended from their official listing on the CISX with effect from 12 noon yesterday.
In a notice, the CISX says the cells have been suspended "on the basis that the Audited Accounts have a Disclaimer of Opinion on the results of operations".
Auditors Ernst & Young (E&Y) state in the company accounts for Arch, renamed SPL funds, they were unable to obtain sufficient audit evidence for the comparative figures for the year ended 31 March 2009.
They also say they were unable to satisfy themselves on these matters by performing other audit procedures.
"Because of the significance of the above matter in relation to the results of the company's operations for the year to 31 March 2010, we are not in a position, and do not, express an opinion on the results of its operations or its cash flows for the year then ended," they state.
The suspension could impact on the anticipated return of around £18m to investors as the Arch cru funds are the main shareholder in the cells.
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