London Capital and Finance: Insolvency:Written question - 238311

Q
(Wantage)
Asked on: 28 March 2019
Treasury
London Capital and Finance: Insolvency
Commons
To ask the Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the administration of London Capital and Finance PLC.
A
Answered by: John Glen
Answered on: 04 April 2019

The Treasury is monitoring developments relating to the failure of London Capital & Finance (LCF) very closely and is in regular contact with the Financial Conduct Authority.

However, the Treasury has no formal role in the administration process of a firm such as LCF and it would be inappropriate for us to comment on the administration process, which is a matter for the joint administrators – in this case, Finbarr O’Connell, Adam Stephens, Colin Hardman and Henry Shinners of Smith & Williamson LLP.

Further information regarding the administration itself can be found on the joint administrators’ website at the following link:

https://smithandwilliamson.com/business/services/restructuring-and-recovery-services/london-capital

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