We have received limited funds to compensate investors in Asset Land companies. Investors should get in touch with us by 25 March 2025.
We successfully took legal action againstAsset Land companies and their directors, David Banner-Eve and Stuart Cohen, following an investigation into unlawful activity in 2012. After a trial and multiple appeals, the defendants were ordered to pay £21 million to us for the benefit of affected investors.In the absence of any payment, we then took further steps resulting in the compulsory liquidation of Asset Land companies and the bankruptcy of Mr. Banner-Eve and Mr. Cohen. The joint liquidators have now concluded the insolvency proceedings, with some funds paid to us from the sale of remaining assets.We have also received settlement payments from other defendants in the case and intend to distribute these funds together with the funds received from the joint liquidators to eligible investors. Subject to High Court approval, the distribution will begin as soon as possible. We aim to make the distribution in the first half of 2025.While the amount returned to investors is expected to be limited, we urge anyone who invested in the scheme and has not yet heard from us to get in touch before 25 March 2025.Investors can contact us at AssetLand.Investors@fca.org.uk or write to:Freepost RTZE–RHAL–URAJ, FCA, Asset Land Team, 12 Endeavour Square, London E20 1JN.For further details, please refer to our information for investors.