The High Court of Justice for England and Wales has set 19 May to 21 May as the date for the hearing regarding the distribution of funds from Football Index’s player protection account. There is currently a balance of £4.5 million in the player protection account, although £3.2 million is owed to customers who still have money in their Football …
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Football Index £4.5m claims hearing taken to High Court
The High Court of Justice for England and Wales has taken on the hearing regarding the distribution of over £4.5 million in funds to former customers of Football Index. Begbies Traynor, the insolvency practitioners for Football Index parent company BetIndex, initially began to process claims against the company in April, one month after the operators collapse. After the firm initiated …
Read More »Begbies Traynor initiates BetIndex customer hearings
Begbies Traynor, the insolvency practitioners for BetIndex, initiated the process of allocating funds to former Football Index customers at a hearing in the Royal Court of Jersey today. The company was initially appointed as BetIndex’s insolvency practitioner in late March following the initial collapse of Football Index and began processing customer claims against the company in April. In a statement …
Read More »Football Index addresses investors on losses distribution
Football Index has released a statement addressing the distribution of lost finances to its customers, two months after the operator entered administration. Begbies Traynor, the insolvency practitioner of Football Index’s parent company BetIndex, initially began to process customer claims against the company in April. The claims process was available to all users of the football player trading platform, including those …
Read More »UKGC under assessment in government Football Index review
The UK government has announced an official independent review into the collapse of Football Index, which will further include an assessment of the UK Gambling Commission‘s (UKGC) regulatory actions. An ‘independent expert’ will participate in the investigation into the demise of Football Index, which operated as a trading platform where users could purchase ‘shares’ in active professional footballers, receiving payments based …
Read More »Football Index administrator begins to register customer claims
Begbies Traynor, the insolvency practitioner of Football Index operator BetIndex, has begun to process customer claims against the company, which officially entered into administration on 26 March. This morning, Begbies Traynor issued a communication to Football Index customers, notifying them that it had begun to register claims against the insolvent business, requiring affected customers to fill out an online form. …
Read More »UK Ministers to launch Football Index probe
UK government Ministers are reportedly planning to launch an investigation into the collapse of ‘football player trading exchange’ Football Index. The Times reported that legislators are ‘deeply concerned’ by the collapse of the operator, after users lost over £100 million following its crash into insolvency. “This case further reinforces the need for our comprehensive review of gambling laws,” a government …
Read More »UKGC warned over Football Index ‘pyramid scheme’ in January 2020
The UK Gambling Commission (UKGC) allegedly received a warning regarding betting exchange Football Index in January 2020, describing the website as a ‘dangerous pyramid scheme’. According to The Guardian, a document was sent to the UKGC, notably highlighted issues surrounding Football Index’s dividends, which it argued resembled the activities of a pyramid scheme. The report estimated that in January 2020, …
Read More »DCMS urged to take immediate action on Football Index collapse
MPs from the All-Party Parliamentary Group for Gambling Related Harm (GRH APPG) have directed further criticism at the UK Gambling Commission (UKGC) regarding the collapse of betting exchange Football Index. Writing a letter to Culture Secretary Oliver Dowden, the group of legislators described the demise of the operator and the losses its customers suffered as a ‘scandal,’ and have cited …
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