Keydata set to break bad news
INVESTORS are preparing for bad news today from a creditors’ meeting at failed structured product firm Keydata, with the firm expected to say they will only get back “pennies in the pound” of their outlay.
The 5,500 investors in Keydata’s Secure Income Bond products, which stopped making payouts after it emerged £103m that was supposed to be being held in the funds had gone missing, are being treated as creditors of the firm.
The products offered a fixed return to investors provided they left funds invested for a minimum period.