SOLICITOR 'SCHEME' CLAIMS

Have you become involved in an investment scheme which was either fraudulent or a complete scam  and lost money?

 

Was part of the reason your joined the scheme due to the involvement, reassurance, or advice of a UK Solicitor?

The types of 'schemes' that some solicitors have become involved in the Solicitors Regulation Authority has divided into 4 main areas include:-

  • Buyer-led developments or refurbishments (e.g. off-plan)

  • Fractional developments (e.g. rooms, spaces, car parking or units within wider schemes).

  • Alternative investments (e.g. precious metals, fine wines, windfarms)

  • Complex Financial products (e.g. loans, shares, bonds)

In many of these cases, the same solicitors who is being asked by the seller of the investment to assist or administer  the scheme, has also become involved in the drawing up of contracts, conveyancing or advising  you on the scheme  without advising that you engage an independent solicitor.

If you have received bad advice, limited advice, or no advice from a solicitor involved in the scheme on the risks and have consequently suffered a financial loss, you may have  a claim for professional negligence. Contact us to discuss the prospects of bringing a professional negligence claim.

As with all claims, it is best to obtain advice as early as possible. We can advise on the merits of a claim, mitigation, procedures and funding. We  can also  help in presenting the case ,dealing with  the former solicitor, the solicitor's  insurers or the Solicitors' Indemnity Fund as appropriate.

It is compulsory for all solicitors to be insured against professional negligence claims. The minimum sum insured per claim is £2m. 

These sorts of claims may be suitable cases for No-Win No-Fee agreements.

If you have any  questions or need help with such a situation, please contact us below.

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