VTBC Asset Management International Limited18th May 2022
On 29 April 2022, the Guernsey Financial Services Commission, acting pursuant to powers granted to it under the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020, made an application to the Royal Court for an administration management order in relation to the Company, a company licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. The Commission felt it necessary to take these steps, in these particular circumstances, in order to protect the interests of investors and the reputation of the Bailiwick as a financial centre given the ongoing impact of sanctions resulting from the Russo-Ukrainian war.
As a result of the application, the Royal Court appointed Alexander Cameron Adam, Andrew McFarlane Wood and Ian Colin Wormleighton of Teneo Financial Advisory Limited as the Administrators of the Company. The Administration Management Order came into effect from 13 May 2022.