Upon the application of the Board of Directors, the High Court of Justice in England and Wales appointed Dane O’Hara, Alex Cadwallader and Andrew Poxon each of Leonard Curtis as Joint Special Administrators of Nvayo Limited with effect from 11:20am on 10 February 2025.
The Special Administrators have secured all clients’ assets and safeguarded the Company’s systems. Clients are assured that their assets are safe.
Support is available to those affected by the Special Administration of Nvayo Limited. Updates on the progress of the Special Administration will be provided on the Special Administrators dedicated website www.leonardcurtis.co.uk/case/nvayo. Clients are encouraged to monitor this website for updates.
The Special Administrators may be contacted using the dedicated telephone number and email address below:
The affairs, business and property of Nvayo Limited are being managed by the Joint Special Administrators who act as agents of the Company without personal liability. Dane O’Hara, Alex Cadwallader and Andrew Poxon are authorised to act as insolvency practitioners by the Insolvency Practitioners Association.
Nvayo Limited remains authorised and regulated by the Financial Conduct Authority. FCA reference number 900005. Registered in England No. 06035209.
RESTRICTIONS ON ACTIVITIES
The Company was engaged in issuing electronic money, payment processes, foreign exchange dealings and issuance of premier payment cards. The Company’s services were only available to members of Aurae Lifestyle, Clubswan and affiliated white-label programs, which are independently operated membership programs.
Customers should note that membership programs were operated by separate legal entities. As such, the Special Administrators will not be in a position to deal with queries relating to these programs, outside of Nvayo services which were offered to Members.
Following our appointment as Special Administrators, our initial actions are to secure the assets of the Company and to identify amounts owed to the Company’s Customers and Creditors.
The Special Administrators will be seeking to return amounts owed to Customers as soon as possible. This will require securing all books and records and undertaking a reconciliation exercise of amounts owed to customers. Unfortunately, whilst this work is being undertaken Customers will not be able to access the amounts owed to them. Customers should note that when the Special Administrators are able to return amounts owed to Customers, such amounts will be reduced by the costs associated with their recovery and return. Full details of such costs will be provided to customers in due course.
