Announcement by the Investor Compensation Scheme
Claims relating to All Invest Company Limited
The Malta Financial Services Authority has, on 5 October 2017, informed the Investor Compensation Scheme that on the 4 October 2017 made a determination in terms of regulation 13 of the Investor Compensation Scheme Regulations, Legal Notice 368 of 2003 to the effect that All Invest Company Limited (“the Company”) is unable, for the time being, for the reasons which are directly related to the Company’s financial circumstances to meet its obligations arising from claims by its investors and to have no early or foreseeable prospect of being able to do so.
As a consequence of this determination, the Investor Compensation Scheme is required to provide for the payment of compensation in respect of claims arising out of the inability of All Invest Company Limited to:
The Investor Compensation Scheme Regulations determine the conditions for eligibility to such compensation. The maximum compensation that may be payable by the Scheme amounts to €20,000, or ninety per cent of an investor’s eligible claims, whichever is the lower.
Those clients of the Company, who wish to make any such claim as is specified in regulation 19 (1) (a) and (b) may do so by not later than 5 November 2017. The right of an investor to obtain compensation from the Scheme will be forfeited if the claim is not made within this prescribed time-limited.
As a consequence of this determination, the Investor Compensation Scheme is also required to settle any judgment or an award given by the Arbiter for Financial Services for up to €20,000, in respect of any civil liability which is obtained by an investor against the Company with regard to licensed business in respect of which there is a determination.
Those clients of the Company who wish to make a claim in respect of such a judgment or award are to give notice to the Scheme upon the opening of the relative proceedings and to make a claim by no later than 5 working days from the date when such judgement or award has become res judicata.
By paying compensation, the Scheme will be subrogated to the claimant’s rights against All Invest Company Limited.
Persons eligible for compensation are required to submit a claim on the form and in accordance with the procedure to be found on this website.
Investors should seek legal assistance when determining whether to accept compensation from the Scheme and when considering whether they have other available means of redress.