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FCA petition for Total Debt Relief Limited to be wound up.
On 11 September 2018, The Financial Conduct Authority (FCA) obtained an urgent High Court Order appointing a Provisional Liquidator in respect of Total Debt Relief limited (TDR), to protect its customers’ money. The FCA is also petitioning for TDR to be wound-up, the petition for this will be heard at a later date. Stephen Hunt of Griffins Insolvency Litigation Forensics has been appointed as Provisional liquidator. As the appointment is provisional, the management of TDR will have the opportunity to challenge the FCA’s concerns before the Court and to apply to have the appointment of the Provisional Liquidator set aside. The FCA had concerns over how the debt management company was handling the money of its customers. The FCA has therefore taken various steps to protect the interests of TDR’s clients, ultimately applying for the Provisional Liquidator to be appointed so he can take steps to secure client funds. The FCA has also launched an investigation into the activities of the firm. The FCA is writing to all affected TDR customers to advise them of the free help and advice that ...
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