Park First schemes placed in administration

Financial Conduct Authority seeks compensation for airport parking investors

The Financial Conduct Authority (FCA) is seeking compensation orders in favour of investors over losses they have suffered in the Park First scheme. On 16 October, the FCA started court proceedings against Park First, its senior managers, including its chief executive officer, and a number of other companies connected to the Park First group. The FCA alleges that the Park First scheme involved an illegal collective investment scheme established to operate car park investments using funds from...

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