On 7 July 2025, ICC Judge Agnello KC made a special administration order in respect of an e-money institution (Ziglu Ltd) pursuant to the Payment and Electronic Money Institution Insolvency Regulations 2021 (Regulations) and appointed David Shambrook and Damian Webb of RSM UK Restructuring Advisory LLP as administrators (RSM). A key policy behind the Regulations is to avoid delay and to reduce costs in relation to the return of safeguarded funds to customers.

The interesting point that arises from the Judge’s (as yet) unreported judgment is the question of choice of administrators.

James Morgan KC was instructed for the Applicants by Addleshaw Goddard (Adam McCarron, Andrew Robertson and Lauren Wright)

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