Football Index issue statement on distribution of money owed to investors
The platform recently went into administration
The online trading platform Football Index has issued a statement regarding the distribution of the money that may still be owed to participants, after the platform went into administration.
Their demise was a gradual but catastrophic one for its customers. A change in the terms of its rules faced a huge backlash from its users, before the company announced the suspension of the trading platform after a price crash that saw many people lose thousands of pounds overnight.
The company then went into administration and had its licence suspended, as thousands of devoted traders faced losing life changing sums of money that were tied up in the company's platform.
"We weren't gambling on footballers. We were gambling on Football Index being an adequate business"@RichRedVoices explains what happened to Football Index and why traders are furious pic.twitter.com/UmtZzW3InP
— FootballJOE (@FootballJOE) March 17, 2021
Now, it seems that some of those heartbroken traders may soon receive some of their lost funds, after a statement issued in Wednesday 5th May read:
"On 30 April 2021 the Administrators of BetIndex Limited issued an application for the determination of the appropriate distribution of the monies held in the Football Index Player Protection Account, and the identification of the customer classes who may be entitled to participate in those funds. This is the first step towards the distribution of cash balances to customers of the Football Index platform.
"The hearing will take place at 11:30am on Monday 10 May 2021. "