Private investors who have cash frozen in accounts at failed stockbroker Pacific Continental Securities are likely to find out next month how much they will get back. The broker – which had attracted 300 complaints to the Financial Ombudsman Service (FOS) – went into administration on 20 June.

From that date the administrators Smith & Williamson have eight weeks in which to reconcile the broker’s books and report to the creditors, who will then call a meeting and decide on recommendations to deal with the remaining assets. It is likely customers will find out shortly after this point what, if any, money can be recouped.

A spokeswoman for Smith & Williamson says: ‘How much money is left over is not something we will know until the reconciliation is complete.’ Former customers of Pacific Continental will only have their cash deposits returned if there is any money left over after creditors’ claims have been settled. However, former clients who have been awarded compensation by the FOS will see their claims treated ‘like any other creditor’, says Emma Parker, spokeswoman for the ombudsman putting them at the front of the queue for reimbursement, although Smith & Williamson declined to comment on this.

Outstanding complaints with the ombudsman are on hold awaiting the outcome of the administration process, after which they may be passed on to the Financial Services Compensation Scheme (FSCS). As the UK financial services sector’s fund of last resort, the FSCS pays compensation if a firm can’t and may award up to £48,000.

All queries should be directed to the administrators Stephen Cork or Joanne Milner at: Smith & Williamson, 25 Moorgate, London, EC2R 6AY or by calling 020 7131 4000. The administrator is also dealing with outstanding share holdings, of which you should provide a list of shares and supporting documents such as contract notes.