Lee Birkett, chief executive of liquidated network Prestbury Financial has decided to take legal action against Personal Touch Financial Services (PTFS) over a deal between the two firms signed in September 2008.
Towards the end of last year, Prestbury confirmed a winding up petition against the firm had been granted after encountering difficulties transferring a number of its appointed representatives (ARs) to PTFS – as had previously been agreed. The firm’s ARs either decided to transfer to a different company or failed to reach acceptable commercial terms directly with PTFS. Lee Birkett, ex-chief executive of Prestbury Financial, says the deal did not proceed as anticipated, but was unable to give exact details of the case for legal reasons. He explains: “I have taken extensive legal a...
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