Over the last 10 years, I have been involved in hundreds of disputes against Financial Services providers. The types of disputes I have handled include:
- Claims against Banks
- Pension Disputes
- Claims against IFAs / Negligent advice
- Tax Schemes
- Film Partnerships
- FOS Complaints
I have unmatched experience in financial services litigation in Leicestershire. My firm, Josiah Hincks Solicitors, is one of the leading law firms in Leicestershire and we are not afraid to take on Banks. Unlike many bigger firms, we are not usually conflicted and so are prepared to bring claims against financial institutions like Banks.
In the last 2 years, I have been spearheading the battle for small business in the Interest Rate Hedging Products (aka Rate Swaps) claims against all of the Banks, including Barclays, HSBC, RBS / Natwest, Lloyds and Clydesdale/Yorkshire. In fact, I have been featured in The Times as Lawyer of the Week, The Leicester Mercury and was nominated as Solicitor of The Year 2015 as a result. I was responsible for the Kays Hotel v Barclays Bank HIgh Court Judgement which allowed thousands of small businesses to pursue rate swap claims despite limitation issues. I have been handling claims worth over £100M and almost all have resulted in very significant payouts for clients. My experience is not limited to IRHP claims though. I have been involved in a number of other claims against banks, whether for misselling of financial products, issues of insolvency including payments made after winding up petition (Hollicourt type scenarios) as well as matters relating to personal guarantees. Basically, any dispute or Court case involving a Bank is right up my street!
I also have considerable experience handling pension disputes and pension related claims. I recently dealt with a number of claims, similar to a group or class action, against a pension provider for failure to give advice or ongoing advice, where funds in a pension were put into cash rather than invested and then left there for years! Obviously that meant zero growth for our clients, and so a claim was brought for compensation. I have also had a number of cases where pensions or other financial investments were badly advised, unsuitable or inappropriate for the particular investor. For example, recently I had a case where a lady in her 70’s had been advised to swap her National Savings & Investments Bond and place her life savings (£70k) off-shore into a Student Accomodation Fund. That fund became illiquid. Our complaint to the Financial Ombudsman Service (FOS) was in respect of the bad advice given by the IFA. Pension Law claims against Pension Trustees or pension schemes are complex and require expert advice. Steven Mather and Josiah Hincks Solicitors are able to handle these types of claims. We have acted for pension schemes but more commonly act for pension beneficiaries. I have been involved in SIPP and SASS pension scheme disputes as well and act for Pension Scheme Trustees, Pension Advisors and Pension investors personally.
One area of pension disputes which has seen a large increase of instructions is in relation to SIPP Investments and particularly SIPP foreign/ international property investements. Schemes such as Harlequin Properties in Carribean and Brazil were rife, and again many of these claims are aimed not at the schemes themselves but claims for compensation against the IFA advisors who advised clients to invest pension money via a SIPP into such complicated and unsuitable products.
Tax Schemes are becoming a more litigious area. The disputes which I have seen have typically come following an HMRC APN Advance Payment Notice – a demand for repayment of tax before HMRC investigate. The dispute can some times be with HMRC as to whether it was tax avoidance or not, but is more commonly a claim by the investor against his/her advisor, either for the scheme set up or the bad/negligent/unsuitable advice given by the advisor in respect of the tax scheme.
UCIS or Unregulated Collective Investments Schemes are another areas which has seen signifcant demand for expert litigation solicitors such as Steven Mather. They are very high risk schemes which are only suitable for suitable for genuinely very high net worth or sophisticated investors who know what they are doing. Many high net worth clients, who were unsophisticated, were mis-sold investments like this and when the schemes become illiquid, can lose a significant amount of money. As a specialist financial services litigation solicitor, I can help them recover funds or claim compensation.
Financial Ombudsman Service (FOS) is a free Parliament appointed ombudsman scheme to help resolve disputes against financial services providers. We often will progress a dispute from a complaint through a firm’s internal complaints procedure, on to FOS complaints. We do this simply because for many people it will be a better option than Court proceedings because of the costs involved. FOS is only applicable up to £150,000 and has certain limits for businesses. However, while FOS say that you do not need a lawyer to bring a complaint (which is absolutely true!) my experience has shown that a properly drafted complaint will have better prospects of success. My expertise lies in linking the contex of the claim to the FCA Rules Guidance and Handbook applicable, whether COBS or PRIN rules. I can also build your complaint around the usual legal principles such as breach of contract, misrepresentation and negligence. I find that doing this my FOS complaints are usually succesful.
As a leading financial services litigation solicitor, based in Leicestershire, I can handle whatever the dispute. I often work on no win no fee agreements subject to assessment. Contact Me now.
Call Us Now on: 01858 462 462
Latest posts by Steven Mather (see all)
- Pension Ombudsman confirms view on SIPP Administrators duties - May 17, 2016
- Business is Great! - July 30, 2015
- The Night Before Christmas v2 – The Legal Proceedings - December 23, 2013