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If so, you could be entitled to thousands of pounds in compensation. Simply, tell us which investment product you took out from the list below:-
If so, you could be entitled to thousands of pounds in compensation. Simply, tell us which investment product you took out from the list below:-
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Mis-sold Ethical Forestry Compensation Claims | No Win No Fee Solicitors

Payouts for Mis-Sold Ethical Forestry SIPP Pension

The issues with Ethical Forestry have been acknowledged by the FSCS. It is currently estimated that investors are owed more than £50m in compensation.

Have you started the claim process?

According to a statement from the FSCS, they expect to pay more than £50m in claims involving Ethical Forestry, a Costa Rican investment. This was confirmed by an article in Citywire.

A minimum of 3,000 investors in the UK that put money into this high-risk unregulated timber investment through pension schemes. It is believed that more than £18,000 was invested from the UK alone.

Although this investment isn’t regulated by the FCA, evidence suggests that some investors chose to invest their pension funds into Ethical Forestry because of poor advice from a regulated financial adviser. This is why FSCS may be able to compensate certain investors. In fact, there are some investors have already received their compensation.

The FSCS Payouts

The Financial Services Compensation scheme exists to be a safety net. If an advisory firm is not trading or is no longer able to compensate their clients, the FSCS steps in. In many cases, the same firm provides poor advice to numerous consumers, and they are eventually left with no funds left to put towards compensation. This means that the FSCS has to pay additional money owed. These payouts are capped at £50,000 per person. This information comes from a current case against an IFA.

Valuations from SIPP Provider Valuations

There is positive news for people that have filed claims regarding the advice they received on Ethical Forestry investments. The FSCS says that they are not going to allow the “book value” valuations that certain SIPP providers have offered to keep investors from receiving the compensation that they are entitled to.

The FSCS will reach out to SIPP providers during the claims process. They will ask the consumer’s provider about the value they ascribe to the current investment. Even though Ethical Forestry is currently in liquidation, Liberty SIPP has opted to assign “Book Value” to this investment. This means that the investment should be valued at the amount the investor originally paid. Some claimants may receive a smaller amount of compensation, while others may receive no compensation at all.

The FSCS has stated that it will ignore these Ethical Forestry valuations, which means some claimants may be entitled to additional compensation. Claims are currently valued as “uncertain.”

News on Ethical Forestry

Updates from the liquidator continue to be infrequent. That stated, the correspondence between investors and HJS Solutions suggests that a deal is currently being negotiated. Their preferred buyer is working to secure bank funding for the purchase.

If you believe you have a valid Ethical Forestry claim, we can help you get the process started. We provide a no-cost initial assessment. Our specialist claims processors will take a look at your claim to see if you’re eligible for compensation. Everything will be handled on a No Win — No Fee basis.*

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