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Phoenix purchases Mortgage Times assets
It has been announced by Administrators, Kelmanson Insolvency Solutions (KIS), that Phoenix CPG Ltd has purchased assets from the failed mortgage network, Mortgage Times.
John Kelmanson, Principal of KIS, commented, “As Administrators, it is our task to realise as much value as we can from the sale of assets of the company in Administration and also to realise any income streams that are due on behalf of all creditors. Phoenix has demonstrated that it has the expertise and facilities to enable us to meet these criteria.”
Michael Ramage, Managing Director of Phoenix, said, “After this very difficult period, our primary concern is to ensure that the clients of the network are notified of the situation surrounding the administration and give them the opportunity to continue to receive proactive financial advice through ourselves or through those intermediaries who were ARs of Mortgage Times, but are still authorised and who wish to maintain their relationship with their clients.”
