This is a blog dedicated to trying to recover the investments made by individuals when they purchased land from Asset Land Worldwide also known as Asset LI INC, Asset Worldwide Group and Asset Land Investment Plc.
I was informed of another MBNA Success using Section 75. This time one investor had paid £1000 deposit on an MBNA Credit Card and paid the rest by BACS payment. He had been unsuccessful using Section 75 and writing himself. He decided to utilise Mis-sold Specialists who are a company who charge a fee to fight your Section 75 claim and if they are successful, they will take a percentage (I think 25-30%) of your refund as a further payment.
In this case the investor says ” I was refunded the total investment amount plus 8 % on top of the investment in interest, less 29% for Mis-sold Specialists so I only lost a few grand in the end”
I am not supporting or promoting the use of Mis-sold Specialists but clearly this investor is happy that he has a refund and has accepted that Mis-sold Specialists have taken a 29% fee.
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On a slightly separate note,
I believe that those who were contacting Paul Tilley from Quality Solicitors Howlett Clarke were also trying to take action against Credit Card firms who were refusing to pay out on Section 75 claims against Asset Land investments.
Does anyone have any news regarding Paul Tilley from Quality Solicitors Howlett Clarke and how your refunds are going?
Anyone else received a call offering an investment in Antimony from Monfort Resources Ltd or Templar Invest?
I have received an email from two Asset Land Investors mentioning cold calls about this investment opportunity….
1. Their office address in London is a VIRTUAL OFFICE SPACE (see here)
2. Neither Monfort Resources nor Templar-Invest are registered (under these names) on Companies House.
3. The Company Registration No. for Templar-Invest is given as Company Registration No: 12097884 …this is also invalid when searching Companies House.
4. On Lord Razzall’s page on the Lords page at http://www.parliament.uk/biographies/lords/lord-razzall/3275 it does mention Montfort Resources Ltd as a directorship although on Companies House, Lord Edward Razzall does not have Montfort Resources Ltd listed as one of his active directorships.
5. Companies House does mention a directorship with Fse Law Rechtsanwalts-GmbH as mentioned below but this is called Belgrave Resources Limited not Montfort Resources.
6. The director for Belgrave Resources Ltd is Edward Timothy Razzall, Director ID: 918267680 different ID from the other Edward Razzall of Baron Brown Ltd.
Can someone clarify what this is about?
THE INFORMATION THAT FOLLOWS WAS SENT to AN ASSET LAND INVESTOR AND IS COPIED AS PER THE EMAIL THEY SENT.
Well I have been interested in the back and forth between Member 2 and his bank, namely the Bank of Ireland. Having seen the various letters and knowing the evidence we have against many of the refusal reasons, Member 2 has been great at sticking with the Section 75 refund replies and not allowing his bank to make excuses for not refunding under Section 75.
Success at last!
Member 2 contacted me today and has now received a full refund for all three plots purchased with Asset Land as an investment with the deposit paid by Credit Card.
Asset Land’s appeal has been dismissed and they have been ordered to pay compensation to investors.
Bad News next….
The compensation will not be equal to the amount invested.
The FCA are writing to all investors in the next few weeks to explain the process from here. If you received a refund from your Credit Card company under Section 75 then clearly you will not be receiving compensation. The Credit Card Company become the creditors instead – but a full refund under Section 75 is preferable to a smaller amount of compensation.
The FCA have a list of investors in the thousand and will be contacting investors directly.
Please don’t ask “How much?”. I don’t know. The FCA don’t know exactly and the process is ongoing.