INVESTORS IN LM AND OTHER FAILED FUNDS NOW HAVE A CHANCE TO RECOVER SOME MONEY
Axiom Legal Financing, LM Managed Performance, All other LM funds, Premier New Earth, Premier Eco Resources, Kijani via FPI or RS /OMI are invited to join an upcoming class action in Isle of Man. The organisers say that such investors “have nothing to lose but everything to gain” by joining this initiative – and at no risk to themselves.
A small group working on this initiative for last six years have teamed up with a top lawyer and leading QC in London, who have prepared a statement of claim which has been registered in the IOM courts offers a the group a 60 % chance of winning the action.
•A top IOM lawyer has been recruited to handle the case.
•Litigation Funding of several million pounds has been obtained to run the case as well as insurance to cover any adverse costs so that there’s no cost to any investor joining the group.
• A committee has been formed of four like-minded investors; the chairperson is Niall Coburn of Coburn Corporate investigations (CCI) who has been working on the case.
There are currently 90+ investors in the group with total losses of approximately eight million pounds. This needs to be increased to 60 million pounds as soon as possible for the Litigation Funder to put up the £3-4m to make the project worthwhile as well as to spread the fees involved over more investors. The total conservative loss of these six funds is around £1 billion.
Investors in any of the six funds mentioned above via Friends Provident or Royal Scandia /OMI can join the group. Those who invested directly are ineligible.
Commented a spokesman for the group: “After almost seven years, investors now have a chance to recover around 50-60% of their original investments at no cost to themselves.”