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Wirecard files for Insolvency yesterday.

GerardKeating · 2020-06-26 10:03:28

Wirecard files for Insolvency yesterday.. This follows relevations last week of a €1.9 billions in fake Filipino bank accounts. Customer funds frozen at Wirecard UK after FCA steps in

Comments

#32 30-06-2020 8:11am

Marcusm

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The FCA has lifted the restrictions which should mean that there were no breaches of the safe-keeping rules and no commingling with other assets of Wirecard group. That’s good news.

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#33 30-06-2020 10:39am

Yggr of Asgard

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Well we see what happens when now everyone rushes to withdraw their funds from the various companies which are using Wirecard Solutions.

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#34 30-06-2020 2:43pm

Marcusm

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Yggr of Asgard wrote: »

Well we see what happens when now everyone rushes to withdraw their funds from the various companies which are using Wirecard Solutions.

I don’t see that they will have lifted the restrictions unless the FCA was satisfied that there had been a breach. To do so would be to extend any prospect of a claim against them. If they were not satisfied then they should have sought an orderly wind down rather than a “whoever withdraws first” approach.

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