A decision by the The Appeal Court in Bilbao in respect to the nullity and voidness of the SLM mortgages has been announced for the 17th of June 2017, a record time by regular Court standards. For this reason, the Court of First Instance has halted enforcement proceedings given the closeness of this date.
The date of the ruling rarely coincide with it being made public, and it can take weeks for lawyers to be formally notified.
This will announce the verdict as soon as it is received.
ISLE OF MAN – HOME OF CRIME
Another Isle of Man fund provider – The Louis Group IOM – goes bust for over £40m taking with it investors savings in what the liquidators term “a financially devastating experience” …. The liquidators also noted the “pivotal” role which Alan Louis played in the company’s collapse where he “seemingly personally benefitted from the transfer of millions of pounds of investor sourced funds to his own personal accounts”.
Proceedings against the directors of the Louis Group are taking place in the Isle of Man High Court – and the Louis Group is also being investigated by the island’s financial crime unit. Meanwhile “investigations” also continue into The Premier Group which has heavily involved in the illegal equity release SITIRS scheme which scammed many pensioners in Spain, resulting in the loss of both their savings AND in some cases their homes.
Will the Isle of Man government finally put a stop to these scams?
Will pigs fly?
NEVER BANK OR INVEST MONEY ON THE ISLE OF MAN!
YOU COULD LOSE ALL OF YOUR LIFE SAVINGS – AND YOUR HOME!
ISLE OF MAN – HOME OF CRIME
Another Isle of Man fund provider – The Louis Group IOM – goes bust for over £40m taking with it investors savings in what the liquidators term “a financially devastating experience” ….
The liquidators also noted the “pivotal” role which Alan Louis played in the company’s collapse where he “seemingly personally benefitted from the transfer of millions of pounds of investor sourced funds to his own personal accounts”.
Proceedings against the directors of the Louis Group are taking place in the Isle of Man High Court – and the Louis Group is also being investigated by the island’s financial crime unit. Meanwhile “investigations” also continue into The Premier Group which has heavily involved in the illegal equity release SITIRS scheme which scammed many pensioners in Spain, resulting in the loss of both their savings AND in some cases their homes.
Will the Isle of Man government finally put a stop to these scams?
Will pigs fly?
NEVER BANK OR INVEST MONEY ON THE ISLE OF MAN!
YOU COULD LOSE ALL OF YOUR LIFE SAVINGS – AND YOUR HOME!
Isle of Man -based Premier Low Risk Fund (Part of the Premier Group) collapsed in June 2017 shortly after being abandoned by four of its Isle of Man based directors The fund had over 2,000 investors (many of them pensioners) who each transferred at least £10,000 to Premier. Total invested was around £100m.
The Premier Low Risk Fund was advertised by Premier as offering 100% capital security and returns that would outperform bank savings accounts. Premier promoted the product as being highly secure despite the fund relying on large bank loans (up to 50% of the net asset value of the fund) to purchase volatile assets in the form of “traded endowment policies”. Investors lost up to half of their savings.
Premier failed to properly explain the high risks involved with the fund – and may have mis-sold it to investors for whom it was not suitable and who fall into one or more of the following categories:-
RISK EXPLANATION
Did Premier give investors truthful advice about the risk involved in transferring money to a fund relying exclusively on the use of large bank loans to acquire volatile assets – yet still advertised as “Low Risk”.
LACK OF UNDERSTANDING
Were many of Premier’s investors new to investing and did they fully understand the process and the structure of a fund designed for institutional and professional investors only?
HARD SELL/PRESSURE SELL
Did investors feel uncomfortable or pressured into an investment they didn’t really understand by unauthorised,unqualified and unregulated “introducers” who were paid large commissions by Premier?
POOR ADVICE
Were investors advised to transfer their money in the Premier fund even though their existing financial planning arrangements were more suitable to their current and future economic needs?
LACK OF TRANSPARACY
Were investors made aware of management fees, introducers commissions and massive promotion costs attached to the fund which were executed via a secretive Caribbean shell company operated by Premier?
INCOME TAX IMPLICATIONS
Were investors told that investing on the Isle of Man could mitigate their local tax obligations?
TAX AVOIDENCE ADVICE
Did Premier, and the “introducers” assisting Premier, recommend the fund as a means of tax avoidance?
OBTAINING AND RETAINING BANK TRANSFERS BY DECEPTION
Were investors persuaded to transfer their money directly into Premier’s bank account by means of deception – a criminal offence.
If you believe that Premier failed to properly explain the high risks involved with the fund – and misrepresented both the fund and Premier’s totally unqualified “introducers” to investors for whom it was entirely unsuitable, then clearly Premier mis-sold the fund.
Isle of Man -based Premier Low Risk Fund (Part of the Premier Group) collapsed in June 2017 shortly after being abandoned by four of its Isle of Man based directors The fund had over 2,000 investors (many of them pensioners) who each transferred at least £10,000 to Premier. Total invested was around £100m.
The Premier Low Risk Fund was advertised by Premier as offering 100% capital security and returns that would outperform bank savings accounts. Premier promoted the product as being highly secure despite the fund relying on large bank loans (up to 50% of the net asset value of the fund) to purchase volatile assets in the form of “traded endowment policies”. Investors lost up to half of their savings.
Premier failed to properly explain the high risks involved with the fund – and may have mis-sold it to investors for whom it was not suitable and who fall into one or more of the following categories:-
RISK EXPLANATION
Did Premier give investors truthful advice about the risk involved in transferring money to a fund relying exclusively on the use of large bank loans to acquire volatile assets – yet still advertised as “Low Risk”.
LACK OF UNDERSTANDING
Were many of Premier’s investors new to investing and did they fully understand the process and the structure of a fund designed for institutional and professional investors only?
HARD SELL/PRESSURE SELL
Did investors feel uncomfortable or pressured into an investment they didn’t really understand by unauthorised,unqualified and unregulated “introducers” who were paid large commissions by Premier?
POOR ADVICE
Were investors advised to transfer their money in the Premier fund even though their existing financial planning arrangements were more suitable to their current and future economic needs?
LACK OF TRANSPARACY
Were investors made aware of management fees, introducers commissions and massive promotion costs attached to the fund which were executed via a secretive Caribbean shell company operated by Premier?
INCOME TAX IMPLICATIONS
Were investors told that investing on the Isle of Man could mitigate their local tax obligations?
TAX AVOIDENCE ADVICE
Did Premier, and the “introducers” assisting Premier, recommend the fund as a means of tax avoidance?
OBTAINING AND RETAINING BANK TRANSFERS BY DECEPTION
Were investors persuaded to transfer their money directly into Premier’s bank account by means of deception – a criminal offence.
If you believe that Premier failed to properly explain the high risks involved with the fund – and misrepresented both the fund and Premier’s totally unqualified “introducers” to investors for whom it was entirely unsuitable, then clearly Premier mis-sold the fund.