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IFA looks to help landbank victims

An IFA is hoping to represent the interests of 4,500 people who invested £69m in the landbanking firm put into administration last week.

The FSA was granted an interim freezing and restraining order against UKLI to protect its assets for creditors, including investors.

Hounslow-based Chess Financial Services managing director Bob Singh is hoping to be elected on to the administrator’s sub-committee at a meeting being held by the liquidators on June 24.

He says: “I am speaking to around 50 of the investors already who had invested in a plot near our offices. The meeting will provide a full list of the investors so that we can create a unified voice. We can see what we can do to help them get their money back. We will also look at whether we can carry on their application for planning permission.

“This firm was very prominent and really hard-selling. I even had calls from it occasionally. It is still early stages but hopefully we will be able to protect our clients’ interests.”

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