The FCA announced in March 2014 that it would consider claims against HD Administrators LLP, and the scheme it was invested in- Arck LLP. This was a property development worth more than £60million, and HD had used customers funds to invest in this scheme. But when the scheme collapsed, the investment became worthless.
As well as potentially losing large amounts of their investments, some investors were also hit with massive tax charges, leaving them doubly out of pocket. The firm went into administration, however terrible mismanagement of funds left a £12 million black hole of funds missing, and as a result, out of 300 under invested, possibly as many as 260 would be unable to recover their funds.
As the firm is now in administration, any claims would be covered by the financial services compensation scheme, and with our help can attempt to secure at least some of their investment back.