The administrators of former structured product provider NDF Administration are to keep the company in administration for a further 12 months.

The company has informed creditors a further year is required to continue running Royal Bank of Scotland products.

Andrew Hosking and Martin Ellis of Grant Thornton were appointed joint administrators of NDF Administration and sister company Defined Returns in October 2009.

In a statement on the company's website, the administrators said a further year was needed while a 'longer term alternative is sought'.

NDF Administration currently has regulatory permissions to run the products, but its is feared these would be lost if the company was placed in liquidation.

The administrators claimed if the company was put into liquidation, it could 'force the early winding up of these invesments'.

The administrators are currently managing four Royal Bank of Scotland plans, including: Skyline, Royal Deposit, Navigator and Autopilot.

NDF Administration and Defined Returns were placed into administration in 2009 over potential liabilities to failed investment bank Lehman Brothers.

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