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Blackmore Bonds PLC, once a prominent investment option for many, has become synonymous with disappointment and financial turmoil. Placed in administration in April 2020, this ill-fated company left investors reeling as their hard-earned money vanished into thin air.
As the dust settles and the search for justice begins, CP Financial Claims brings you the latest updates on the mis-sold pension claims surrounding Blackmore Bonds PLC. Join us as we explore the intricate web of responsibilities, the pursuit of compensation, and the impact on affected individuals.
Blackmore Bonds PLC, a company that once seemed promising, took a devastating turn. In April 2020, the company faced administration, with Duff & Phelps being appointed to handle the affairs. Initial estimates suggested that investors might only recover £5 million out of the £46 million invested.
However, by December of the same year, the recoverable figure plummeted to a mere £1 million, leaving investors in a state of despair.
One crucial aspect of the Blackmore Bonds PLC saga is that neither the company nor its investment products were regulated by the Financial Conduct Authority (FCA). As a result, investors found themselves without the protection and compensation options typically provided by regulated entities.
Goji, operating as an ISA manager, played a significant role in the distribution of funds invested in Blackmore Bonds. Investors who entrusted their money to Goji saw their funds dispersed into various investments, including Blackmore Bonds.
However, when Blackmore Bonds defaulted, responsibility fell on multiple firms, including Goji, who operate under the Principal FCA permissions of Sapia Partners LLP.
As Goji was a representitive of Sapia Partners, Sapia bears the legal liability for the losses suffered by clients. Complaints regarding Blackmore Bonds are directed to Sapia Partners, which is responsible for addressing and resolving these claims.
We stand apart from other claims management companies. We take on cases that we believe we can win and operate on a no-win, no-fee basis (please see our full terms), ensuring that our clients receive the best possible representation.
Also, please note that you should only engage with x1 claims management company to start any claims process. So, if you have signed with a Law Firm or FCA regulated claims management company, you must first ask to be released from your contract, before we can act on your behalf.
Additionally, we do not charge clients for release if progress has not been made, setting us apart from many of our competitors.
Blackmore Bonds PLC's plunge into administration and the subsequent mis-selling of pensions has left investors grappling with financial losses and a sense of betrayal. As the pursuit of compensation gains momentum, CP FinancialsClaims remains committed to fighting for justice and supporting those affected by Blackmore Bonds.
Stay informed, stay empowered, and trust us to navigate the complex landscape of mis-sold pension claims.
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You are not obliged to use our service. It is possible for you to present your claim for free, either to the firm, or person against whom you wish to complain, or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.
