On 10 February 2025, following the application made by the directors of the company, the High Court of Justice in England and Wales made an order placing Nvayo Limited (Nvayo or the Company) into Special Administration. Dane O'Hara, Alex Cadwallader and Andrew Poxon of Leonard Curtis (UK) Limited were duly appointed as Joint Special Administrators (the Special Administrators).
Support is available to those affected by the Special Administration of Nvayo Limited. Updates on the progress of the Special Administration will be provided on this webpage throughout the process and customers are encouraged to monitor this webpage for updates. Details on how to contact the Special Administration can be found on this webpage below.
The Leonard Curtis team are on hand should you have any questions or queries regarding the Special Administration. Support is available to all customers and creditors. You can find our contact details below:
Telephone: 0161 660 0579
Email: Nvayo@leonardcurtis.co.uk
Address: 5th Floor, Grove House, 248A Marylebone Road, London, NW1 6BB
Webpage: www.leonardcurtis.co.uk/case/nvayo
Where financial firms enter an insolvency process such as Special Administration, fraudsters may sometimes approach customers claiming to be able to recover their money in return for an advance fee. Sometimes the fraudsters claim to be from the Company or the Special Administrators’ office. You should be wary of any unexpected call, email or other contact which asks for money in this manner. FCA guidelines are available at: www.fca.org.uk/consumers/protect-yourself-scams
Please note that the Special Administrators will use a dedicated webpage to provide updates and relevant information to customers. The webpage address is www.leonardcurtis.co.uk/case/Nvayo and this is the only webpage that will be used by the Special Administrators. Should this position change we will notify all customers and other parties accordingly.
The affairs, business and property of Nvayo Limited are being managed by the Joint Special Administrators who act as agents of the Company without personal liability. Dane O'Hara, Alex Cadwallader and Andrew Poxon are authorised to act as insolvency practitioners by the Insolvency Practitioners Association
Nvayo Limited remains authorised and regulated by the Financial Conduct Authority. FCA reference number 900005. Registered in England No. 06035209.
The Officeholders are Data Controllers of personal data as defined by the Data Protection Act 2018. Personal Data will be kept secure and processed only for matters relating to the appointment. Please refer to our Privacy Policy for further information.
The Payment and Electronic Money Institution Insolvency Regulations 2021 introduced a special administration regime for payment and e-money institutions. A special administration is similar to an ordinary administration. However, the special administrators have an additional objective to return customer money as soon as reasonably practicable.
In many respects a special administration is very similar to an ordinary administration (as governed by the Insolvency Act 1986) and it is a process that is subject to the supervision of the High Court of Justice in England and Wales. Special Administrations are however less common than normal administrations.
However, there are some key differences and in particular the special administrators must pursue three objectives (although the order in which they appear is not important):
The Special Administrators are performing their duties in line with the applicable Regulations and Rules (including the FCA's rules). In addition, the Special Administrators are having regular communications with the FCA on the progress and strategy of the Special Administration. It should be noted that the Company remains authorised and regulated by the FCA despite its entry into Special Administration. The Special Administrators in turn are regulated by the Insolvency Practitioners Association.
Nvayo has been placed into Special Administration. No subsidiaries or companies within the Group to which Nvayo belongs are covered by the Special Administration Order and the Special Administrators are not able to advise on matters to do with them. Customers / creditors of any other businesses should speak to their usual contact.
Customers will be aware that the Company’s products were offered via two membership programs in the UK, being Aurae Lifestyle and Clubswan and affiliated white-label programs. The Company did not offer services to customers outside of these associated membership programs. The UK operation of these two membership programs in the UK has ceased, and it is anticipated that the corresponding legal entities responsible for the operation of these membership programs will shortly enter into alternative insolvency proceedings. Additional information in this regard will be made available to customers in due course.
Nvayo is not currently providing payment services.
On 8 August 2023, requirements were imposed on Nvayo to cease all regulated payment services due to concerns that the firm was not meeting its conditions of authorisation.
In the short term you will not be able to transfer or otherwise use your funds held with Nvayo as they are effectively frozen.
The Special Administrators recognise that this may be a difficult position for customers to be put in. One of the Special Administrators’ key objectives is to resolve the position as quickly as possible. The Special Administrators immediate priority is to take control of the safeguarded funds and reconcile these. In the longer term a plan will be developed to return the safeguarded funds to customers.
We are currently unable to provide any further details on possible timings or the amount of any distributions. We will update customers and creditors in due course and would encourage you to monitor the dedicated website, www.leonardcurtis.co.uk/case/nvayo for further updates.
No. The FSCS only applies to certain types of activity. This does not include electronic money or payment services. Further details of what is covered by the scheme can be found at https://www.fscs.org.uk. Under the Payment Services Regulations 2017 (“PSRs”), there are requirements for regulated payment firms on how customers’ money should be protected, and these requirements are known as ‘safeguarding’.
When Nvayo provided regulated payment services activities it was required to hold money separately for its customers. These safeguarding requirements apply to Nvayo, and the firm must comply with them at all times.
Safeguarding is a key consumer protection measure within the PSRs. The purpose of safeguarding is to protect customer funds if a firm fails.
The Special Administrators will carry out an assessment of all funds held by the firm to establish which are safeguarded for customers and which belong to the firm.
When the Special Administrators are in a position to process amounts owed to customers, such amount will be reduced by costs associated with the recovery and return of funds to customers. Further information in relation to the amount owing to you, costs which may be deducted and the timing of when funds will be returned will be communicated to customers as soon as possible.
Yes, you will need to make a claim into the Special Administration. There will be a claims notification process, and we will advise you about this in due course.
A customer is someone who uses Nvayo's payment services and for whom Nvayo may hold a credit balance on behalf of.
Please contact the Special Administrators on 0161 660 0579 or email Nvayo@leonardcurtis.co.uk.
A creditor is a supplier of goods or services to Nvayo and who is owed money for those goods or services as of the date of the Special Administration.
The Special Administrators will write to you in due course regarding outstanding balances and ongoing supply, however, please send correspondence c/o Leonard Curtis, 5th Floor, Grove House, 248A Marylebone Road, London, NW1 6BB or to Nvayo@leonardcurtis.co.uk in the first instance.
The Special Administrators will publish periodic updates on the dedicated webpage www.leonardcurtis.co.uk/case/nvayo for the Special Administration.
The Special Administrators are required by statute to send a report outlining their proposals for the Company to all known customers and creditors within eight weeks of their appointment, being before 7 April 2025.
A dedicated mailbox has been set up for those affected by the Special Administration of Nvayo (Nvayo@leonardcurtis.co.uk); please direct any further queries to this address. Alternatively, customers may call 0161 660 0579. This mailbox is being monitored by the Special Administrators staff and they will endeavour to answer your queries as soon as possible. However, due to the volume and similarity of certain queries being received, certain queries will be addressed through updates on the Special Administrators’ website. Please monitor the website for latest updates at www.leonardcurtis.co.uk/case/nvayo.
The Special Administrators will provide further updates once in a position to do so.
The Special Administrators will continue to retain records in line with regulatory requirements and in accordance with our privacy notice at: ww.leonardcurtis.co.uk/legal-notices/privacy-policy