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Keydata sale expected this week, says insolvency administrator

Keydaya Investment Services will be sold as a going concern this week, according to PricewaterhouseCoopers, the company's insolvency administrator. In the interim, the Defined Income Plan Issue Keydata launched hours before the UK Financial Services Authority declared it insolvent has been put on hold.

Forty buyers have expressed an interest in purchasing Keydata, according to PricewaterhouseCoopers (PwC). The sale should allow the resumption of income payments on products from the UK structured and investment products distributor, according to Dan Schwarzmann, London-based joint administrator and partner at PwC.

PwC has delayed the new plan while it investigates Individuals Savings Account (Isa)

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