Farepak Compensation

Andrew George has signed EDM2490. Motion reads: “That this House regrets that the victims of the failed Christmas hamper and savings company Farepak have not yet received compensation following the company’s liquidation in October 2006; notes that the company’s administrators, BDO, have announced that the cost of winding up the company has reached 8.2 million to date; further notes that this figure far exceeds the current level of compensation agreed for victims, which stands at 5.53 million; and calls on the Government to ensure that all those who have lost out to Farepak are compensated for their losses and to consider the more strict regulation of the prepayment industry.”