Hudspiths investors succeed in bid to force it into compulsory liquidation

102 creditors of Hudspiths have succeeded in having the company’s voluntary liquidation converted to a compulsory one, in a bid to gain more insight into what the collapsed unregulated scheme did with their money.

Hudspiths was an unregulated forex scheme that launched in 2015 and promised returns of 5% per month, along with 2% per month to be paid to its introducers. The scheme collapsed in 2018 and filed for voluntary liquidation in June.

Hudspiths investors were unhappy with the voluntary liquidation and believe that a compulsory liquidation will give them more power to find out where the £50 million they invested went.

They took the company to the High Court which ruled in their favour on 7 August.

The Official Receiver will now take over the liquidation.

A barrister for Hudspiths investors accused Hudspiths of running a Ponzi scheme. Hudspiths director, Fifty Shades of Grey fan Karl Lubienicki, has denied the allegation.

More to follow as and when the new liquidators report.

4 thoughts on “Hudspiths investors succeed in bid to force it into compulsory liquidation

  1. I hope harewoods investors take note cos the 32.8m is not enough when spv holders cannot gain access to their funds – this should be added then probably not far off 50m either! GO FOR IT

  2. When are some of these schemes going to be looked into for fraud rather than just shut down? This scheme was allegedly making 5% per month on FX – did it ever trade?

  3. It probably bought some foreign exchange at some point.

    What it didn’t do is consistently make 5% per month (which is why it went bust). Nor has anybody ever for any long-term period. Otherwise they would be managing billions within months and retire as billionaires themselves within years.

  4. That is true Brev, issue is, Hudspiths never actually had £50m, only £10m. Problem is with these products, so long as people offer unrealistic monthly returns, greedy and gullible punters will keep pumping money in, then when it goes wrong, they cry wolf……until the next one comes along and then they are back in again.

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