Asset Land Appeal Rejected 14 April 2014

Land bank firm shut down by the FCA has appeal rejected by Court.

Screen Shot 2014-04-15 at 11.04.33

See the FCA Latest News below:


and for those that can’t face reading the link, before asking about getting your money back, ……

The High Court made an order in March 2013 that David Banner-Eve, Stuart Cohen, Asset Land investments plc and Asset L.I Inc make a preliminary payment to the FCA of £21 million as part repayment for investors. That order has been stayed pending the Court of Appeal’s decision. It will remain stayed pending the outcome of any appeal to the Supreme Court.

The FCA is aiming to return as much as money possible to investors, but it is unlikely to be the full amount they invested. Unfortunately the FCA has not identified any assets of the defendants that would enable more than a small proportion of these payments to be made.

This decision follows a similar judgment against Capital Alternatives in February 2014 which also made clear that the FCA’s approach was sound.

The Defendants in CAL are seeking to take this to the Court of Appeal.

The Asset Land Appeal decision could still be appealed to the Supreme Court.

Update to Bank of Ireland Member two in the Credit Card Refunds Area. 17 March 2014

Member Two is still pursuing his claim against the Bank of Ireland.  He has successfully had a refund for one plot where Asset Land did not reach the step of changing the ownership details with Land Registry.  However, the BOI is holding out for other plots where the Land Registry change of ownership did occur.

The update is under Member Two in the Credit Card Refund Area.

How are others doing with their credit card providers?  Any new successes or updates?

Option for GROUP LITIGATION ORDER – Credit Card Refunds ONLY 12 Feb 2014

This concerns investors who:

1. Paid for their Asset Land plot(s) either in part or in full by CREDIT card.

2. Have been UNSUCCESSFUL in gaining a full refund for the entire plot(s) from their Credit Card Company.

You may have read the information I previously posted regarding another landbanking scam victim (not Asset Land but a similar scam) who took MBNA to court to get her money back under Section 75.

One investor and Site Lead, Roberta Bailey,  was in contact with Paul Tilley (the solicitor involved in the successful case referenced above) and he has presented an option that may be of interest to you.

Click the link for more information:

FCA v Asset Land Appeal – update 11 Feb 14

waiting game

I know people are asking if there is any news so I thought I’d just let you know that our FCA Liaison is in contact but there is no news yet, hence the lack of update.

I promise as soon as we hear anything I will update the blog.



Malouf v MBNA – Section 75 makes Credit Card company liable for refund in land banking scam investment case. 28 Jan 2014

See the link below for further information on this important judgement relating to a credit card company trying to avoiding payout for the victim of a landbanking scam when she paid the deposit with her credit card.

The judgement, which may well be of use to those struggling with their Credit Card company refusing to pay out under Section 75,  is of note because of the time passed since the payment date,  and also the fact that the payment was processed by a different company (similar situation to ESL whose director was Susan Siggins, wife of Stuart Cohen/Knight and part of the scam).

Read the judgement (html) :  Mal’ouf v MBNA Europe Bank Ltd (t/a Abbey Cards) [2014] EW Misc 1 (CC) (27 January 2014)

Download the judgement (pdf):  Mal’ouf v MBNA Europe Bank Ltd (t/a Abbey Cards) [2014] EW Misc 1 (CC) (27 January 2014)

Thanks to Gill for the updates and helping out other victims of landbanking scams and for her advice -

“If anyone has problems with s.75 claims please provide them with Paul Tilleys name as he was excellent…he had less than 8 weeks to prepare things too”

County court ruling means £millions could be owed by credit card companies 28 Jan 2014

Interesting news for those who have been told that “too much time has passed” since their investment payment with their credit card – usually the deposit was paid by this method.