Arch cru

A group of up to 1,000 investors in failed fund range Arch Cru have joined forces to bring a case against the vehicle's authorised corporate director Capita Financial Managers - and have found a top London law firm, favourable counsel's opinion and third...

The Financial Conduct Authority (FCA) has written to advisers asking them why they failed to comply to its redress scheme rules in reporting back on the number of eligible Arch Cru claimants they had on their books.

The Financial Services Compensation Scheme (FSCS) has so far compensated 1,700 claimants with a total of £32m in relation to the failed CF Arch Cru funds.

The Financial Services Compensation Scheme (FSCS) said it is continuing to receive claims in respect of the CF Arch Cru funds, and has put the likelihood of a further interim levy for 2013-14 as ‘medium'.

Investors in the failed Arch Cru fund range have received a further return of their capital of £17.6m as the directors now at the helm wind down the company.

Investors in the collapsed Arch Cru fund range who sign up to a payment scheme set up by the funds' authorised corporate director, Capita Financial Managers, are in line to receive markedly less than forecast.

Litigation lawyers Harcus Sinclair have written to Capita Financial Managers Limited (CFML) notifying them of a claim against them in respect of a number of ‘sample' Arch Cru clients.

Respect MP George Galloway's early day motion (EDM) to fight for full compensation for Arch Cru investors has gained 25 signatures so far.

The Financial Services Compensation Scheme (FSCS) has revealed it has paid out £25m in compensation to investors in Arch Cru and £1.8m over Keydata this financial year.

Chase de Vere today announced steep losses for 2012 of £11.2m, impacted by the £14.4m set aside to cover the costs of its Keydata legal battle and compensating clients sold Arch Cru and payment protection insurance.