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The companies petitioned by the FSC were, Gibland Secretarial Services Limited, Gibland Nominees Limited, Equity Nominees Limited, Equitar Management Limited, Gibter Management Limited and Meridian Trustees Limited

The effect of the appointment of the liquidators is that the Authorised Administration for these companies has now come to an end.

The applications, made under the provisions of the Financial Services Commission Act 2007 came just over a year after the FSC cancelled the licences of the firms and appointed an Authorised Administrator to take control of them to protect the interests of the clients of the various firms.

In the intervening period the Authorised Administrator has been responsible for client affairs and the transfer of 652 companies to other service providers and the administration of the remaining companies.

Reacting to this Mr Marcus Killick, the Commission’s CEO stated;

“We are obviously satisfied that we have been able to reach this stage in what have been very difficult circumstances for all the parties involved.

The protection of clients’ interests has been our primary concern throughout the process and in this regard I would like to publicly thank Mr Freddie White and his team for their efforts in the Administration.

Without such commitment and effort we would not have arrived at this point so quickly.”

The FSC will shortly be petitioning the Supreme Court to wind up Cabor Trustees Ltd, another related company, on the same basis.

Any persons wishing to make contact with the Joint Liquidators should contact them directly at: Mr Freddie White (freddie.white@gi.gt.com) and Mr Joseph Canilla (pepe@canillas.gi).

The FSC will continue to support and work with the Joint Liquidators to ensure that any clients who have not yet done so but who wish for their companies to be transferred to another service provider are adequately provided for.

The FSC was represented by Elliott Phillips

28-02-2011 | by Marcus Killick | Published: Gibraltar Financial Services Commission Press Release