The trial of Arch Financial Products and its chief executive Robin Farrell has been postponed.
Arch Cru's new fund manager John Davey heavily contested that there was a 'fire sale' of Guernsey cells' portfolios that could have lost investors money following his firm's takeover of the fund management mandate in 2009.
Arch Financial Products chief executive Robin Farrell and compliance director Robert Addison have fiercely contested allegations of greed and dishonesty in relation to investments made by the Arch Cru funds.
Arch Financial Products has been accused of taking £3m in fees for a deal involving the Arch Cru funds which "was valued at nil", the High Court heard today.
The High Court has given the go ahead to around 550 investors to pursue Capita over losses they incurred when Arch Cru collapsed.
The Financial Conduct Authority (FCA) is writing to clients of advisers who reported a below average opt-in rate for its Arch Cru redress scheme - to ask if they believe they had been properly informed.
The Financial Ombudsman Service (FOS) has rejected only one claim at decision stage against advice to invest in Arch Cru, since it has started publishing complaints decisions in April.
IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch Cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.