Fees paid to Joint Liquidators

Summary

A request was made for information regarding fees paid to Joint Liquidators for the liquidation of Montpelier (Trust and Corporate) Services Limited. The Isle of Man Financial Services Authority refused to disclose the information, citing statutory exemptions under the Financial Services Act 2008.

Key Facts

• The request concerned fees paid to Mr McGurgan and Mr Saville of Grant Thornton.
• The liquidation relates to Montpelier (Trust and Corporate) Services Limited.
• The requested period covers 27th April 2020 to 30th June 2021.
• The authority determined the information is absolutely exempt from disclosure.
• Disclosure is prohibited under Schedule 5 of the Financial Services Act 2008.

Data Disclosed

• 1900373
• 2021-07-13
• 2021-07-20
• 27th April 2020
• 30th June 2021
• Financial Services Act 2008
• Schedule 5
• Freedom of Information Act 2015

Exemptions Cited

• Schedule 5 to the Financial Services Act 2008
• Information relating to the business or other affairs of any person

Original Request

This request is for information relating to the fees paid to the Joint Liquidators, Mr McGurgan and Mr Saville of Grant Thornton by the FSA in relation to the liquidation of Montpelier (Trust and Corporate) Services Limited for the period 27th April 2020 to 30th June 2021.

Data Tables (1)

Full Response Text

Isle of Man Financial Services Authority PO Box 58, Finch Hill House, Bucks Road, Douglas, Isle of Man, IM99 1DT Tel: +44 (0)1624 646000 Website: www.iomfsa.im Our ref: 1900373

20 July 2021
Dear ### We write further to your request which was received on 13 July 2021 and which states:
"This request is for information relating to the fees paid to the Joint Liquidators, Mr McGurgan and Mr Saville of Grant Thornton by the FSA in relation to the liquidation of Montpelier (Trust and Corporate) Services Limited for the period 27th April 2020 to 30th June 2021." While our aim is to provide information whenever possible, in this instance the information is absolutely exempt from disclosure on the basis that disclosure is prohibited under Schedule 5 to the Financial Services Act 2008 (“Act”). Paragraph 1 of Schedule 5 to the Financial Services Act 2008 restricts the disclosure of certain information by the Authority, its members or its agents or servants. The information which is restricted includes information "which relates to the business or other affairs of any person" and breach of this restriction is a criminal offence.
The information that is sought relates to the business or other affairs of the person identified in the request and is, therefore, restricted information under the Act and so restricted by statute.
Please quote the reference number 1900373 in any future communications. Your right to request a review
If you are unhappy with this response to your freedom of information request, you may ask us to carry out an internal review of the response, by completing a complaint form and submitting it electronically or by delivery/post.
An electronic version of our complaint form can be found by going to our website at https://services.gov.im/freedom-of-information/Review . If you would like a paper version of our complaint form to be sent to you by post, please contact me and I will be happy to arrange for this. Your review request should explain why you are dissatisfied with this response, and should be made as soon as practicable. We will respond as soon as the review has been concluded. If you are not satisfied with the result of the review, you then have the right to appeal to the Information Commissioner for a decision on; 1. Whether we have responded to your request for information in accordance with Part 2 of the Freedom of Information Act 2015; or 2. Whether we are justified in refusing to give you the information requested. In response to an application for review, the Information Commissioner may, at any time, attempt to resolve a matter by negotiation, conciliation, mediation or another form of alternative dispute resolution and will have regard to any outcome of this in making any subsequent decision. More detailed information on your right to a review can be found on the Information Commissioner’s website at www.inforights.im. Should you have any queries concerning this letter, please do not hesitate to contact me. Further information about freedom of information requests can be found at www.gov.im/foi. I will now close your request as of this date. Yours faithfully