Ex-UDM miners’ injury firm in administration

A spokesman for administrators Price Waterhouse Coopers said Vendside had faced a number of issues over recent years with regard to profitability as it had diversified.

He added: “It has received notice of a substantial number of potential actions in respect of the handling of some legacy claims.

“In the light of these actions the directors made the decision to place Vendside into administration. Our role is to assess the position of the business and the potential claims it faces in order to oversee a plan to maximise the return to creditors and shareholders as appropriate.”

The UDM established Vendside in 1997 to handle personal injury claims of miners and former miners in the local area.

Vendside, which employs 19 people, has diversified into property rental and other property services more recently.

In 2005 the company was subject to a Serious Fraud Office investigation based on allegations UDM members had been defrauded of fees which had been diverted to ‘financial intermediation’ company Indiclaim . The investigation was discontinued in 2010.