The Guernsey Financial Services Commission (GFSC) has applied to the courts to have administrators appointed to two firms based on the island.
They are Continent Worldwide, a licenced manager of funds, investments and securities; and Continent PCC (formerly Suprema PCC), a regulated collective investment scheme, which offers open-ended and closed-ended funds.
The GFSC said it was “acting to protect the interests of investors and pursuant to powers granted to it under the Protection of Investors (Administration and Intervention) (Bailiwick of Guernsey) Ordinance of 2008”.
As a result of the application, the Guernsey court has appointed Grant Thornton as the administrator of both entities.
The financial watchdog did provide any other information about the firms, or give any details about the investors who may have been impacted or any money that is at stake.