Hedge Capital Limited (06737541): administration
- Status
- Administration ended
- Administration began
- 2017-06-07
- Administrators
- Alistair Mcalinden, Blair Carnegie Nimmo
- Administrators' firm
- KPMG
- Incorporated
- 2008-10-30
- Location
- London
- Industry
- 64929 Other credit granting n.e.c.
Why it went into administration
- Regulatory change or action
- Pension deficit
From the administrators' statement
The Company was incorporated on 30 October 2008 and historically operated from leasehold office premises in Birmingham.
The Company was involved in a ‘pensions liberation’ scheme where various individuals have accessed their pension pots early in contravention of tax legislation i.e. they have had tax relief on their pension contributions, but have then accessed the cash in their pension pots early before their normal retirement age.
Various individuals were encouraged to transfer their pension pots into the Pennine and Mendips Retirement Benefits Schemes (‘the pension schemes’). The pension schemes then subscribed for circa £19 million of preference shares in Hedge Capital Investments Group Ltd ((HCIGL’).
Administrators' statement of proposals (2017-08-11) · Companies House register