The UK’s Financial Services Compensation Scheme (FSCS), which helps consumers when authorised financial services firms fail, is battling to recover money paid out to investors in a fund that went into liquidation but has since resumed making distributions.
Investors in the ill-fated EEA Life Settlements Fund will receive a $54.5m (£42.1m, €49.9m) payout for their shares in the so-called ‘death bonds’.
Investors in the ill-fated EEA Life Settlements Fund have been told it could be more profitable for them to sell off remaining policies in the fund than hold them to maturity, according to David Trinkwon, coordinator of the EEA Investors Group.
Former England football captain Alan Shearer is reported to be taking legal action against a financial salesman to reclaim up to £6m ($7.5m, €7m) after being ‘mis-sold’ investments, according to an English newspaper.
Investors in the ill-fated EEA Life Settlements Fund received a $49m (£39.6m, €59.8m) payout in October for their shares in the so-called ‘death bonds’.
Investors in the ill-fated EEA Life Settlements Fund have been told they cannot sell their shares in so-called ‘death bonds’ until later in the year as not enough cash has been generated from maturing policies, according to campaign group EEA Investor’s Group (EEIG).
Investors in the ill-fated EEA Life Settlements Fund have received a “dismal” strike price offer for their shares in so-called ‘death bonds’, according to campaign group EEA Investor’s Group (EEIG).
The Upper Tribunal has rejected an FCA ban of a Catalyst director relating to the promotion of unlicensed Luxembourg-issued ‘death bonds’.
A consumer action group has been set up by investors in a so called “death bond” fund to take on the UK Government which it believes holds responsibility for investor losses.
The fate of EEA Life Settlements Fund took a step closer to resolution yesterday with investors voting in favour of a restructure to be implemented next month.
Controversial traded life policy investments (TLPIs) could have provided investors with an average expected return of 12.5% per annum, while Americans selling them have collectively received more than four times the amount they would have from their life insurance companies.
