24 May 2019
Equity has stepped in to protect models’ fees after the collapse of a modelling agency. In January 2017 FM London Model Management (FMMA) went into voluntary liquidation owing large sums of money to models. It was subsequently discovered that there was a risk to models' fees as they could be treated as part of the general funds to be distributed to FMMA's creditors rather than being ring-fenced as money held on trust for the models.
This resulted in lengthy correspondence with the liquidators and almost 12 months of legal proceedings. On 10 May 2019, the High Court made an order concerning how the money should be distributed. The court accepted the main arguments of Equity's legal team had advanced, resulting in the most favourable outcome that could be expected.
As a result of the court order, those models who have yet to make claims to the liquidators for the fees owing to them, must now do so by 4pm 28 June 2019. For further information on the case and how to claim go here or you can contact Equity’s Legal Officer Martin Kenny on email@example.com