The UK's Financial Conduct Authority (FCA) has released an update on the Avacade case.。

In August 2020, after a trial, the High Court ordered illegal pension introducers Avacade, Alexandra Associates and their directors to pay consumers 1,071 damages..50 thousand pounds。

Following the High Court's order, the Court of Appeal upheld the decision on 4 August 2021 against Alexandra Associates (UK) Limited (Alexandra Associates (U.K.) Limited) (trading in the name of Avacade Future Solutions) and the breach findings of Craig and Lee Lummis。

The defendant failed to comply with the restitution order and, as a result, on 21 November 2023, the FCA obtained a bankruptcy order against Lee and Craig Lummis。The insolvency representative (or insolvency trustee) will investigate the bankrupt's financial situation and administer their estate。

Raymond Fox, Avacade's third director, was previously declared bankrupt on August 19, 2020.。

The Financial Supervisory Authority issued a winding-up order against Alexandra United (UK) Limited on 22 February 2022, which was subsequently dissolved on 10 April 2023.。