It has been nearly 3 years since the Christmas savings firm collapsed leaving thousands of families’ holiday preparations in ruins.
At that time, Thompsons Compensation Claim Solicitors, who offer a free legal advice service to Trade Union members, were inundated with calls asking for help and advice from people with hundreds of pounds invested in the Christmas hamper scheme.
This week liquidators of the now defunct company have begun to send compensation to those affected by the collapse. Compensation to the tune of £240,000 has been sent to nearly 6000 customers who invested in the trust shortly before it went into administration.
The compensation comes after a court decision on whether the Farepak trust was indeed ever properly set-up.
Unfortunately, due to a ruling on the legality of the trust, those who invested prior to an allocated cut-off date of 11 October 2006 will not receive their money back and shall instead be awarded a measly 5p for every pound spent in compensation.
Contact your Union representative about the legal services Thompsons offers to its members.