20th March 2015
Claimants who invested in Lifemark backed products through Keydata Investment Services can expect to receive a payment from the Financial Services Compensation Scheme (FSCS) in the coming days.
Starting today, payments will go to claimants whose compensatable losses exceeded the full level of compensation. People who had more than £30,000 invested at the time of the failure will receive additional payments. This follows a distribution from the recoveries made by FSCS. These will take account of all five distributions that FSCS has received from the Lifemark trustee to date.
FSCS understands that the trustee intends to make a final distribution of approximately 1% of the nominal value of the issued bonds towards the end of 2016. You can find more information about payments and what they mean for claimants and the industry in the following statement.