Note for creditors who have received compensation from the Financial Services Compensation Scheme ("FSCS")

As Fixi Plc was authorised by the FCA and provided FSCS protected financial products, the FSCS agreed to pay compensation of up to £85,000 to investment creditors that met the relevant criteria. We developed a protocol with the FSCS to facilitate the payment of compensation to those creditors. 

We are liaising with the FSCS to track compensation payments made. Under the FSCS terms and conditions as compensation is paid to creditors the original claimant assigns their rights as creditor in full to the FSCS. Where the FSCS has advised that it has paid compensation to a creditor we will replace the original claimant's claim on our system with the FSCS's claim. The effect of this is that the FSCS (as a creditor) will receive any future distributions payable from the liquidation in respect of the original claimant's claim. As a creditor receiving compensation from the FSCS has already agreed to these terms, we will not be writing to creditors individually to confirm assignment of their claim in the liquidation.'

Further details of compensation can be found here.

Details of the FSCS payment terms can be found here.

Details of the FSCS Determination Instrument 2019 (Fixi Plc) can be found here.