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On 30 January 2025, CFSL (also known as Solaris EMI) entered special administration. Joshua James Dwyer and Robert Spence of Interpath Limited have been appointed as Joint Special Administrators.
The Court decided to place CFSL into special administration on application by its directors. Joshua James Dwyer and Robert Spence of Interpath Limited were appointed as special administrators of CFSL.CFSL is authorised by the FCA to issue e-money and provide payment services. E-money firms like CFSL appoint distributors to distribute and redeem e-money. CFSL remains responsible for the activities of its distributors. The customers of the following distributor programmes are impacted by CFSL entering special administration:TrilogyFfreesNaga PayCFSL transferred the distributor programme Engage to Suits Me Limited before it entered special administration. Customers of Engage that were transferred to Suits Me Limited are not impacted by the special administration.The special administrators are responsible for managing customer claims against the firm and returning funds back to customers where possible. The special administrators will provide a report to creditors within 8 weeks of their appointment.For updates, customers should visit the special administrators’ dedicated portal.Please beware of scams. The special administrators will not call customers directly by phone.Customers can also contact our Consumer Helpline: 0800 111 6768.
https://www.fca.org.uk/news/news-sto...administration