Louis Group Structured Fund PLC and other companies

The Financial Supervision Commission (“the Commission”) has made announcements concerning intervention in the affairs of the Louis Group Structured Fund PLC and other companies under the Commission’s powers or with the consent of the High Court. Further details are contained in announcements issued with this statement, which cover:

  • Louis Group Structured Fund PLC – appointment of persons to assume control of the affairs of the scheme, under section 13 of the Collective Investment Schemes Act 2008. Further details can be found here;
  • Louis Group (IOM) Limited - appointment of a manager under the Financial Services Act 2008. Further details can be found here;
  • Louis Group Structured Capital Limited, Louis Group International (Europe) Limited and LG SP Investments Ltd – appointment of joint liquidators provisionally on an ex parte basis pending a full hearing. Further details can be found here.

The Commission appreciates that investors will be anxious to establish the implications of today’s announcements. This statement is linked to a “Frequently Asked Questions” (“FAQ”) sheet which can be found here.

The FAQ sheet includes information for investors in:

  • Louis Group Structured Fund PLC
  • Secured Loan Notes (“SLNs”)
  • Property Investment & Cessation of Securities Agreements (“PICS”)
  • Property investment companies
Financial Supervision Commission
5 October 2012

 

In the event of queries please contact the Commission by e-mail at the following address: [email protected]

Alternatively, please write to the Commission at: Enquiries, Financial Supervision Commission, P.O. Box 58, Finch Hill House, Bucks Road, Douglas, Isle of Man, IM99 IDT