Farepak Appeal to Queen on £1m fund
The Queen is being asked to make sure more than £1million of unclaimed Christmas club savings goes to worthy causes.
The cash comes from Farepak, who went bust 10 years ago leaving customers £ 37million out of pocket.
All unclaimed cash was handed to the Government when Farepak were officially wound up in 2013.
Under insolvency rules, it will revert to the Treasury in 2019 if still unclaimed.
So campaigners are appealing to the Queen, as head of the Treasury, to step in and make sure it goes to children’s charities instead.
Deborah Harvey, of the disbanded Farepak Victims Committee, has written to the Queen with the request.
She said: “Some of the dividend cheques sent out were never cashed. Many people have moved on or, sadly, have passed away,
“We cannot let this money languish in government coffers.”
Farepak – who allowed customers to save for Christmas hampers and vouchers – crashed into administration in 2006
Deborah, from south Wales, gave evidence to a Law Commission inquiry into how to prot ect members of such schemes.
The inquiry report called for better regulation of Christmas savings clubs.
Deborah added: “I won’t be satisfied until the issue of the unclaimed £1million is r e s o l v e d a nd t he Government take on board the Law Commission recommendations.”