Kieran Wallace and Andrew O’Leary of Interpath Ireland were appointed as Joint Liquidators (the “JLs”) of PFS Card Services (Ireland) Limited (“PCSIL”, or the “Company”) by order of the Irish High Court provisionally on the 17th January 2024 (the “Liquidation”). The Liquidation was subsequently confirmed by order of the Irish High Court on the 13th February 2024. PCSIL is a specialist provider of payment solutions to individual consumers and businesses. The Company is authorised by the Central Bank of Ireland (“CBI”) as an e-money institution.
At the time of appointment, the liquidation of PCSIL was considered solvent based on financial projections provided by the Company and the Joint Liquidators were winding up the Company on that basis. However, the Joint Liquidators have determined that the liquidation of PCSIL is insolvent. As a consequence of the insolvency, the Joint Liquidators have ceased trading and operations. This means that all customers cards have been closed and any balances remaining on cards are permanently frozen.
The Joint Liquidators are in the process of applying for direction from the High Court in Ireland on cardholder refunds. It will take number of months for the High Court to determine these matters. Until such time as the Joint Liquidators have received direction, cardholders will not be able to obtain a refund.
Cardholders Please scroll down to see frequently asked questions (”FAQs”), Cardholder Notice and contact details for cardholder distributors/providers.
The Joint Liquidators have advised the CBI as well as other regulators of the insolvency and its impact. The Joint Liquidators advised the High Court in Ireland of the insolvency on 29 August 2024.
High Court Directions
Refunding cardholders’ money will be a significant cost to the liquidation. The Liquidators are seeking directions on who will pay the cost of refunding money to cardholders. The High Court will determine who will pay this cost.
Usuarios - Desplácese hacia abajo para ver las preguntas frecuentes ("FAQs"), Aviso a usuarios y los detalles de contacto para distribuidores/proveedores de tarjetas.
Détenteurs de cartes - veuillez faire descendre la page pour consulter les questions fréquemment posées (« FAQ »), l'avis aux détenteurs de cartes et les coordonnées des distributeurs/fournisseurs des cartes.
