London Capital & Finance, El Cupey and where the investors stand now.
Many London Capital and Finance (LCF) investors are waiting to get back the £237 million they trusted with the firm. It has been revealed that there is another group of pensioners whose money was put into London Capital and Finance investment projects that have been waiting even longer.
This investment project was called El Cupey, a holiday home development in the Dominican Republic. There were two developments planned and marketed. Initially “The Hill” and then, when oversold, “The Beach”. From 2011, they invested in off-plan property with the promise that work would be completed in 2014. It was thought that when the resort was finished they could sell their property for a 20% profit or live off of the rental income. The majority of these investors had Toxic Timeshares and were offered an exit in return for purchasing a tangible product. Some clients were encouraged to remortgage their homes in order to fund the investment, the company promised to provide regular payments for the pensioners to pay the interest on their loans.
This never became a consideration as there was and still is no sign of the El Cupey development and the investors interest payments have now come to a halt. Investors report that payments were sporadic, at best, and ceased completely in February of 2019.
The Claims Bureau are in contact with many people who had concerns about El Cupey. From this, The Claims Bureau did vast amounts of research, sent teams out to the site in El Cupey and found no evidence of activity. The Claims Bureau took photographs and submitted these to the Financial Services Compensation Scheme (FSCS).
In December 2018, on the back The Claims Bureau’s efforts, the FSCS declared Nil Value, meaning that it has been accepted that El Cupey will never be built.
Whilst this is devastating for the investors, it also means they have a chance of recovering their money.
Since our successes getting the FSCS to accept El Cupey will not be built, we have taken in 150+ claims from these investors and there are many more out there, who may not even know they have now got hope.
A large percentage of El Cupey clients are still working, into retirement, to keep up with their mortgage payments.
If you were an El Cupey investor that is still waiting for some kind of hope, we would love to speak to you, we can guide you through what is going on and straighten out any confusion. We will be happy to do a free review of your case and if we believe we can help you, we'll put your case to the FSCS for you. The Claims Bureau has already submitted cases to the FSCS and had their claims upheld.
There are many ways you can get in touch, please do not hesitate, we will not pressure you into anything or tie you into any contracts unless you specify you'd like us to work on your case. All Claims are investigated, written and submitted on a NO WIN NO FEE basis, which means we do not charge the client unless we are successful in recovering an investors losses.
Contact us today for more information.
Call: 01903 868 251
We look forward to hearing from you.