Ignition Select enters dissolution after administration extension fails to realise funds
Close Brothers are set to lose millions from the broker dissolving.
Ignition Select has entered dissolution after two years in administration, with Close Brothers expecting to lose millions in owed payments.
Administrators from Begbies Traynor made the decision after failing to realise funds from the broker’s debtors over the past year.
Begbies Traynor has conceded that Close Brothers, Ignition Select’s sole secured creditor, will now suffer a “significant shortfall” from the £2,205,058 they are owed.
Close Brothers has received £724,015 from asset
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace