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Shareholders facing big losses as firm collapses

The collapse of the Lamensdorf Group could lead to the loss of millions of pounds by shareholders and employees.

Some individual investors are believed to have had more than £1m invested in the firm while many others are each believed to have holdings running into tens of thousands of pounds.

Prior to Lamensdorf&#39s closure, some individual shareholders were in discussions with solicitors to take legal action against the firm but they now say they have little recourse but to sue the former directors of the group.

Lamensdorf called off its planned Aim flotation last August, putting the blame on stockmarket volatility. Last October, shareholders tried to force the management to hold an emergency meeting after a proposed meeting was cancelled but their request was denied.

Industry sources believe that Lamensdorf advisers will probably be hired as a group by a network, with Misys a likely candidate, or the advisers could be reformed under a new company shell.

But shareholder and Combined Capital Partners director Tony Wright-Jones says: “I wrote off regaining any of my investment two years ago and do not plan to pursue it. There are so many talented and experienced people with the company who are now out of jobs.”

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