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OFT threatens Roxburghe's licence

Debt collection agency Roxburghe is thought to be appealing against a warning from the Office of Fair Trading that it is minded to revoke the company’s consumer credit licence.

The regulator (OFT) issued related "minded to revoke" (MTR) notices to Roxburghe, HFO Services Ltd and HFO Capital Ltd, all of which are trading names of HFO Services, on 20 May.

The debt collection agency would be unable to trade if its licence was revoked.

The OFT said the adjudicator is likely to make his decision in the next three to nine months. It added that the company has the right to make representations to the independent adjudicator before a decision is made.

The OFT said there is also a "minded to exclude" notice against Alasdair Turnbull from coverage of the group licence held by the Law Society of England and Wales.

Turnbull, a solicitor for the firm Turnbull Rutherford, is listed on the Consumer Credit Register as ‘an individual running’ Roxburghe alongside managing director Gary Osner.

He is also listed by the OFT as an individual running HFO Services and HFO Capital. Five other people are named on the HFO Capital licence with him.

However, information filed at Companies House suggests that Turnbull resigned as a director of HFO Services on 12 May 2009 and was succeeded by Badri Nathan.

The last set of accounts filed by HFO Services at Companies House lists solicitor firm Turnbull Rutherford as the secretary of the company.

Roxburghe compliance manager Kelly Boother told Credit Today it is not yet clear what the decision will be. She said: "We are involved in a process at the moment but we’re not able to make any further comment on the advice of our lawyers. We really don’t have any outcomes at the moment."

Published 11 July 2011

 

 

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