Liberty SIPP entered administration in April 2020 after it was insolvency was advised based on the number of claims against it. It was advised to enter administration to protect any creditors, including former customers like you.
After the company entered administration, there has been much debate about how investors can get their money back. If you invested your hard-earned money into Liberty SIPP, here’s everything you need to know about the upcoming Liberty SIPP court case and getting your money back.
The upcoming Liberty SIPP court case explained
According to a statement of administrators proposal that was uploaded to the Liberty SIPP Companies House page in June, a court case has been scheduled for September 2020 and Reynolds Porter Chamberlain will represent the SIPP provider throughout the hearing.
The administrator’s proposal also contained information about the company prior to its administration. It suggested that claims from customers weren’t the only factors that led to the administration. In fact, the Financial Ombudsman Service and the Pensions Ombudsman Service also had a change of view in regard to the way the company was operating.
The upcoming court case will also focus on Liberty SIPP’s non-standard investments and their business with Avacade Limited, who promoted high-risk investments like Ethical Forestry Limited and Global Plantations Limited. The unregulated pension introducer is now in liquidation but is believed to have referred over 65% of clients to Liberty SIPP.
What does this mean for claims?
With the court case looming, there has remained some uncertainty around Liberty SIPP compensation claims. However, APJ Solicitors suggested, “claims against providers such as Liberty Sipp will be presented on the basis it should not have accepted questionable business from unregulated introducers.”
The statement of administrators proposal also suggested that, as Liberty SIPP were FSCS registered, any investors with losses up to £85,000 can still make a claim.
How to claim
To make your claim, visit our Liberty SIPP compensation claims page to fill out our claims form to see if you’re eligible. In just a few clicks the form will let you know if you have a claim or not. If you prefer, you can call us directly on 0161 968 0768 to obtain a form or discuss the case further.
Our experienced team is here to help you through the process and will fight your case every step of the way. We will submit your case directly to the provider and even take it to the Financial Ombudsman if your case is not upheld initially. Rest assured you’re in safe hands when you choose Expert Pension Claims.
For more information, visit our SIPP pension claims page to get to grips with how the claims process works.
Staying pension savvy
Many mis-sold investors are often put off after an investment goes wrong, but that doesn’t have to be the case. Saving for your future is important. Here are some useful resources to help you find the right pension investment for you: