Trilogy, EFreeze and Naga Pay Customers – Contis Financial Services Ltd Contis Financial Services Ltd which operates online banking platforms Trilogy Ffreeze and Naga Pay was placed into special administration by court order of 30th of January 2025. Customers will inevitably be very concerned about the funds which have been in place with the bank and will be anxious as to how they can recover those funds. The arrangements for the return of customer funds is governed by the Payment and Electronic Money Institution Insolvency Regulations 2021 which aims to protect customer funds as a priority. The administration is called a ‘special administration’ as it is governed by tailor made 2021 regulations and not the general law that applies to insolvency in general. As a first priority administrators will need to do a reconciliation of the accounts held by Contis and where possible restore customer funds from the institution’s own resources and relevant third-party claims e.g. insurance claims. The administrator may

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