Liquidators for agency say landlords and tenants will get their money

Liquidators Grant Thornton says funds found in the accounts of a Guernsey lettings agent are likely to be sufficient to pay back missing money to landlords and tenants.

Last month Letting Agent Today reported that Sarnia Estate Agency on the island appeared to have closed its office despite protests from those allegedly owed money. Sarnia was also classed as‘Strike Off Listed’ on the Guernsey Registry - a process when a local business fails to pay an annual fee to island authorities. 

Now the Guernsey Press is reporting that Grant Thornton, appointed as liquidators for the agency, says enough money exists to repay those owed.

“These funds are specifically held for the repayment of deposits not yet paid over by Sarnia to landlords under the terms of managed property agreements, or for the few individuals who so unfortunately had paid over funds for deposit and advance rent at the time of the liquidation but their tenancy was not subsequently agreed” says a Grant Thornton representative quoted by the Guernsey Press.

Funds will be paid once the liquidators have confirmed the total amount available is sufficient to pay the amounts owed in full - Grant Thornton hopes this will be by November 1.

Sarnia was placed under voluntary liquidation on 28 August.

In total, over 40 people made complaints to the Guernsey Police Financial Crime Team after Sarnia shut its premises in July; the agency also deleted its Facebook page after (according to the newspaper) a client went public about being unable to contact the firm.