Kristina Kicks and Ed Boyle of Interpath Advisory were appointed Joint Special Administrators of Rational Foreign Exchange Limited (RFX) on 29 November 2023. At the same time, Kristina Kicks and Ed Boyle were appointed joint administrators of Xendpay Limited, which acted as a PSD Agent of the firm. Kristina Kicks and Ed Boyle were also appointed joint administrators of Rational Group Limited on 1 December 2023.
RFX provides foreign exchange and payment services to corporate and retail clients. The directors of the firm concluded that the firm was insolvent and applied to court for a special administration order.
The Joint Special Administrators are in the early stages of the Special Administration and the immediate priority is to secure the assets of the Company, including securing all customer safeguarded funds. Unfortunately, customers will not have access to their funds at this time.
Customers are advised that whilst every effort will be made to return funds to customers as soon as possible, it is necessary for the Joint Special Administrators to secure control of all relevant information, reconcile balances and ensure that the necessary due diligence and know your customer information is in place.
The Joint Special Administrators recognise that this is a very difficult position for customers, and as such, one of their key objectives is to provide a further update as quickly as possible.
Customers and other stakeholders can find further information, including some Frequently Asked Questions (FAQs) on the Special Administrators’ insolvency portal:
https://www.ia-insolv.com/case+INTERPATH+RNB30B2912.html
This portal will be updated as the special administration progresses.
Customers should continue to submit any enquiries they may have to the Rational FX and Xendpay Customer Services team in the first instance at the following details:
Rational FX Customer Services
Telephone:
Europe +33 3 76 04 50 00
UK +44 (0)20 7220 8181
Email:
Europe-based clients - [email protected]
UK-based clients - [email protected]
Xendpay Customer Services
Telephone: +44(0)20 7220 8158
Email: [email protected]
The Joint Special Administrators’ team can be contacted by emailing [email protected].
