Rebus confirmed on its website that, on 28 January 2016, Simon Harris of ReSolve Partners had been appointed administrator of Rebus Investment Solutions, Rebus Investment Group, and Rebus Management Services.
Founder Michael Kamine outlined the London-based company’s crowdfunding pitch eight months ago, saying: “With a record spanning five years and revenue last year totalling over £1.2m ($1.7m, €1.6m), we believe Rebus are the market leaders in professional negligence claims relating to high risk financial products.”
According to Rebus’s website, the company was managing 1,700 claims with an estimated value of more than £930m.
Targeting a market they believed to be worth £55bn, Rebus netted £0.8m from 109 investors on crowdfunding website Crowdcube, 136% of their initial £0.6m goal.
All of their investors now stand to lose their money.
