Allansons offered investors the opportunity to invest in a litigation funding scheme which focused on their mortgage audit service.
They promised investors a potential return of 50% within 6 to 18 months should their cases succeed.
They also promised investors their money back should the scheme fail. They said this protection was via an ATE (After The Event) insurance policy. That was of course on the assumption their prefered ATE insurers called Leeward Insurance of Bermuda, agreed to pay the claim and has sufficient resources to do so.
Unregulated third party introducers promoted this investment as “High Returns with insurance and FSCS protection” which contradicted Allansons own literature which stated their investment scheme was not in fact covered by the FSCS (Financial Services Compensation Scheme).
The failure of Allansons to meet this timescale to repay their litigation investors is being blamed on the lenders stringing the mortgage cases out in court.
The SRA (Solicitors Regulatory Authority) has not as yet officially stated the reasons for closing down Allansons.
The SRA did say however that “Mr Allanson, as a manager of the firm has failed to comply with the SRA Principles 2011, the SRA Practice Framework Rules 2011 and the SRA Accounts Rules 2011”.
Allanson claims it is because the SRA thought Allansons was too small to handle the 4,500+ cases referred to in his letter.
IF YOU HAVE INVESTED INTO ALLANSONS LITIGATION FUNDING SCHEME, AND YOU ARE CONCERNED ABOUT GETTING BACK YOUR INVESTMENT, THEN WE CAN HELP.
SIMPLY COMPLETE THE QUICK ENQUIRY FORM TODAY AND GET A REVIEW OF YOUR POTENTIAL CLAIM.
