24th November 2017
Catalyst Investment Group Limited (Catalyst) was declared in default on 27 September 2013 and the FSCS paid compensation for claims concerning the firm’s promotion of funds backed by ARM Asset Backed Securities SA (ARM).
The administrators of ARM, BDO, have announced that a first interim dividend is to be paid. FSCS expects to receive approximately 89% of this dividend under our assigned rights. People who received compensation from FSCS in relation to Catalyst (or Rockingham Independent Limited) may therefore be due an additional payment from FSCS.
Claimants do not need to take any action. If you are due an additional payment from FSCS, we will contact you automatically in due course.
The FSCS is considering what additional payments will be due to claimants. We are working closely with the administrators to understand how the dividend is broken down, and the individual calculations will be quite complex. As a result, we cannot say at this stage how long it will take us to complete the calculations and make additional payments.
We will publish another update on our website when we are ready to start making payments.