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Crown Currency in Administration

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It is officially been released that Crown Currency Exchange Limited Crown Holdings (London) Limited

are Both In Administration. ("the Companies")

ADMINISTRATION

Paul Clark and Matt Bond, of MCR, together with Harold Sorksy and Stella Davis of SPW (UK) LLP were appointed Joint Administrators ("Administrators") of the Companies on 4 October 2010. Paul Clark and Matt Bond are licensed by the Insolvency Practitioners' Association, and Harold Sorsky and Stella Davis are licensed by the ACCA.

The affairs, business and property of the Companies are being managed by the Administrators, who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

CURRENT STATUS

The Companies operations are suspended whilst the Administrators assess the position.

The website will be updated on a regular basis.

In addition, the call centres will be reopened shortly and the operators will deal with your queries as far as possible. Please be advised that the message that the call centre operators provide to customers will be in accordance with the Joint Administrators.

Should you have any queries, please email crowncurrencyexchange@mcr.uk.com and the Administrators endeavour to respond to your query as soon as practicable. Please note that the Administrators understand that there are in excess of 13,000 customers and an immediate response will not be possible.

The Joint Administrators

The affairs, business and property of the Companies are being managed by the Administrators, Matt Bond & Paul Clark, (MCR) and Harold Sorsky & Stella Davis (SPW (UK) LLP) who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

Updated: 4 October 2010

Action

Payments made by Credit Cards

If you buy your travel money with a credit card, and your transaction is more than £100, your money is protected under the terms of the Consumer Credit Act.

Your money may be protected even if the cost of your air travel was less than £100 and you paid by credit card, but you should claim within a reasonable time.

Many credit card companies will also refund money if the airline you booked with goes bankrupt, including the cost of unused return tickets.

Debit cards

This protection does not apply to debit cards such as Switch or Delta. Consider this if you are planning to avoid the credit fee charged by some airlines.

Consumer help

( Consumer Direct) - a government funded service that provides clear, practical, consumer advice, with a useful page containing details on how to spot scams.

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