Azets appointed as Fund Ourselves administrator

Azets is set to oversee the administration of Fund Ourselves Ltd, a Financial Conduct Authority (FCA) registered high-cost short-term lender.  

Rob Young and Louise Brittain from the firm were appointed as joint administrators by the High Court of Justice on 21 July. 

Fund Ourselves Limited mainly operated as a lender of high-cost short-term credit loans. It also operated a small peer-to-peer lending platform and facilitated crowdfunded loans that were used to finance high-cost short-term credit loans.

Fund Ourselves Ltd is no longer issuing new loans and as Azets undertakes an “immediate” assessment of its operations and activities. 

However, the FCA said that all existing loan agreements remain in place and the joint administrators will update customers as soon as possible, while any payment arrangements currently in place will not be affected and customers should continue to make payments as normal.

Azets said it will issue a statement on the company’s website  and on its own website “as soon as we are able”. 

It added: “As the administrators, we will collaborate with the FCA to ensure that the company’s affairs are wound down in a controlled and compliant manner and that the interests of the customers are protected throughout.   

“Once an initial assessment has been completed, an update will be issued on websites in order to provide clear guidance to former customers.”