London Court Limited enters liquidation

Your investment is not affected by the LCL liquidation.

We are aware investors are concerned about certain bonds they have bought via LCL or the ‘My Investment Hub’ platform.

The joint liquidators will be writing to you shortly to explain what to do if you bought a bond via LCL or the ‘My Investment Hub’ platform.

If you do not hear from the joint liquidators or have more questions about your investment, contact the FSCS or the joint liquidators.

You may also consider contacting the company that issued the bond you invested in.

LCL did not have permission to hold client money.

If you were advised to transfer funds to LCL you may wish to consider making a complaint against LCL by contacting the FSCS or the joint liquidators. 

You can make a claim against LCL by: 

• using the FSCS online claims service[7]
• contacting the joint liquidators 

If you have a complaint against LCL but were advised by LCL that you do not have the right to make a complaint, contact the FSCS or the joint liquidators.  

If you have made a complaint against LCL, you may have a claim if you are due any money in compensation.

You should first contact the joint liquidators for more details about how complaints or claims will be dealt with. 

If you’ve already referred a complaint to the Ombudsman, they will contact you in due course about next steps.

You don’t need to take any action, but you can contact the Ombudsman if needed: 

• Phone: 0800 023 4567 
• Email: [email protected]
• Website: www.financial-ombudsman.org.uk[8]

The Financial Services Compensation Scheme (FSCS) protects consumers when UK financial services firms go out of business. 

Whether you’re covered by the FSCS will depend on the:

• firm
• type of activity the firm does

Find out more about what the FSCS covers and compensation limits[9]. 

The FSCS is operationally independent of the FCA. The FSCS decides whether compensation is payable under our compensation rules.  

The FSCS will work with the joint liquidators to determine whether consumers have a valid claim under our compensation rules and provide further updates. 

Visit the FSCS website[5] for further updates.  

The FCA has no legal role in overseeing liquidations. However, LCL remains authorised and subject to our rules. We will liaise with the joint liquidators throughout the liquidation.

The joint liquidators are officers of the court and will need to comply with relevant insolvency law. Rehan Ahmed and Tauseef Rashid are authorised to act as licensed insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

Investors do not have to pay to make a claim.

Please see our section below on protecting yourself from scams.

A claims management company (CMC)[10] may approach you offering to help you bring a claim.

You should proceed with caution if you are approached by one of these companies. For most clients, there will be no benefit in involving a third party to make a claim.  

If you use a CMC to make a claim, they are likely to seek a fee, which may reduce what you get back. 

If you’re considering using a CMC, you should first contact the FSCS or the joint liquidators.  

Fraudsters sometimes claim to be from legitimate firms authorised by us, or (in the case of liquidation) their appointed liquidator.

Be wary of fraudsters pretending to be LCL or the joint liquidators and asking you to pay money to get your money back. 

If you get an unexpected call from someone claiming to be from LCL or the joint liquidators you should:  

• end the call straight away
• call the FSCS or joint liquidators directly using the phone numbers above

Find out how to protect yourself from scams[11], including recovery room scams[12].