Fascinating BBC Business programme on Sunday night about where all the money belonging to the Farepak customers went (or got spent).
There’s an interesting interview with the former chairman of the company, Nick Gilodi-Johnson (who blames the bank – HBOS) and also with an HBOS representative (who blames the management).
Anyone surprised? The liquidator says already, that there is little or no prospect that any claimant, or former saver, will see any more than about 5p for every £1 saved. And even that isn’t likely until February 2007 at the earliest.
The much-vaunted fund is up to about £4m – only £36m to go.
If anyone would like to donate, they can do so here, via the family fund.