Failed Investment Schemes

The team at Enyo Law has acted, and continues to act, for various groups of individual investors, and other entities who have had the misfortune to invest in a range of failed tax mitigation and other investment scheme products/vehicles.

We represent clients pursuing claims worth up to several hundred million pounds against a variety of professional entities and individuals, including solicitors, auditors, financial advisers, accountants, surveyors and financial institutions.

The claims have involved a range of causes of action, including in fraud, negligence, breach of contract, and breach of fiduciary and trust duties, as well as a multitude of issues and applications including, for example, in relation to disclosure, jurisdiction, limitation and quantum.

As well as pursuing matters in Court to trial and appeal, we have assisted many investors to negotiate settlements of their claims, and have experience dealing with HMRC and the FCA, including helping investors to pursue claims and recover compensation through the FOS and FSCS.

We also have experience acting in claims giving rise to cross-jurisdictional issues, necessitating close working relationships with overseas lawyers.

Examples of the cases in which we have acted or are continuing to act include:
  • Acting in relation to significant claims following the insolvency of two Luxembourg SPVs into which thousands of individuals, directly and indirectly (including via Keydata entities), invested circa $375 million in Bonds backed by US life settlements market assets.
  • Acting for the Defendant in relation to claims for over £100 million brought by the Connaught Income Fund (Series 1) following the collapse of all three of the Connaught Income Funds (Series 1, 2 and 3) in 2012. The case settled on confidential terms.
  • Acting for the Claimants in relation to the InnovatorOne litigation, where the firm acted for 555 investors in a claim involving allegations of conspiracy, dishonest assistance and negligence against a firm of solicitors which advised in relation to tax efficient investment schemes which were subsequently disallowed by HMRC. The claim settled on confidential terms.

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