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Farepak customers to receive more money

The former MP for South Swindon has welcomed news that customers of the collapsed Christmas savings firm Farepak will receive more of their money back. Anne Snelgrove said she was delighted that the liquidators will pay an extra 32 pence for each pound lost - taking the total to 49p.

Tens of thousands of people lost an average of four hundred pounds when the Swindon based firm collapsed in 2006.

£8 million for former Farepak customers

The bank HBOS has decided to make £8 million available to help former customers of the collapsed Farepak Christmas hamper business which was based in Swindon.

It comes after Mr Justice Peter Smith accused the bank of taking a "hardball approach" and suggested it should "seriously consider" adding to the £2 million it put into a distress fund in 2006 for Farepak's customers.

HBOS said it had acted legally, but said that the group had "wider responsibilities" to the community as well as legal and financial obligations.

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MP welcomes Vince Cable's Farepak letter

The Conservative MP for South Swindon Robert Buckland, has welcomed the business secretary's decision to write to the bankers of Farerpak. Tens of thousands of people lost an average of four hundred pounds each when the firm collapsed in 2006.

Now Dr Cable is writing to the firm's bankers asking them to increase compensation following critical comments by a judge at a court case last week.

Cable steps in over Farepak row

Business Secretary Vince Cable has stepped into the row about compensation for victims of the Swindon-based savings firm Farepak.

Tens of thousands of people including many in the West, lost an average of four hundred pounds each when the firm, that was supposed to supply Christmas hampers, collapsed in 2006.

Now Dr Cable is writing to the firm's bankers asking them to increase compensation following critical comments by a judge at a court case last week.

Tens of thousands of people lost an average of £400 each in 2006. Credit: Chris Ison/PA Wire/Press Association Images

Earlier this month the government said it had been forced to abandon attempts to penalise five directors of Farepak.

MP talks about his disappointment at collapse of Farepak case

People who lost money with the collapse of the Swindon savings firm Farepak have reacted with anger to the news that a legal case against the directors has been dropped.

Tens of thousands of savers in a Christmas hamper scheme lost money when the company went into administration in 2006.

The Insolvency Service applied to the High Court to ban nine former bosses from serving as directors. However the move was abandoned after evidence about the role of the firm's bankers.

Local MP Robert Buckland says it is a disappointment for Farepak savers

Plans to penalise Farepak directors abandoned

The government has been forced to abandon attempts to penalise five directors of the collapsed Swindon savings fim Farepak.

Thousands of people saving for Christmas hampers lost an average of £400 each when the company went into administration six years ago.

Farepak protest
People owed money by Farepak protesting outside the firm's Swindon warehouse Credit: ITV West

The Insolvency Service applied to bar five bosses from serving as directors for up to 15 years. But today the Service announced it was calling off the action after talks with its lawyers.

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