What would happen if Crowdstacker closed to new business?
Upon a decision to wind down the business, Crowdstacker’s wind-down plan would take effect. Our contingency plans will allow the loan portfolio to operate as normal. All loans will continue under contractually agreed terms, and you would continue to receive interest payments until maturity, when your capital will be repaid. Lenders who have active loans are unlikely to be able to withdraw their investments until borrowers have repaid.
What would happen if Crowdstacker went into administration?
In the event that Crowdstacker Limited is unable to trade, the firm has agreed a living will agreement with Resolution Compliance Limited to ensure that the firm is wound down in an orderly manner for both its peer to peer lending, bond, loan notes and equity crowdfunding business.
Resolution Compliance Limited is authorised and regulated by the Financial Conduct Authority under FRN: 574048. Crowdstacker has a Resolution Manual in place to assist an administrator taking over the running of the business. The manual provides information how the firm conducts the business of management and administration of P2P agreements that it has facilitated, what the day-to-day operation of that business entails and what resources would be needed to continue that business if the firm ceased to carry it on.
If Resolution Compliance Limited is appointed to administer your investment(s), either Crowdstacker or Resolution Compliance Limited is entitled to charge you 1% of the outstanding balance of your investment(s) together will all costs and expenses arising from the administration of your loan and ancillary responsibilities. These costs incurred will help to ensure an orderly repayment of your outstanding investments.
Although measures have been taken to manage wind down, there is a risk P2P agreement may cease to be managed and administered before they mature.
For more information on our Wind-down policy please email customer services at firstname.lastname@example.org