Allansons Litigation Funding was a scheme operated by the law firm of Allansons LLP. In June 2018 we warned potential investors that we had serious concerns about this investment proposal. See HERE.
In late May 2019 investors received a letter from a law firm acting on behalf of the Solicitors Regulation Authority. The letter contained the following information:
“Allansons LLP of 1st Floor, Queens Buildings, Central Street, Bolton, Lancashire, BL1 2AB, 658 Ormskirk Road, Pemberton, Wigan, WN5 8AQ and 44 Clarendon Road, Watford, Hertfordshire, WD17 1DR (‘Allansons’), has been closed by the Solicitors Regulation Authority (‘SRA’). This is called an intervention. The intervention took place on 24 May 2019.
Allansons can no longer act for its clients. This means they cannot act on the miscalculated mortgage payment claims you were funding. The clients pursuing those claims need to find another lawyer to act for them.
What does the intervention mean for my litigation funding agreement?
We understand that the litigation funding agreement is between you and Allansons, not you and the claimants (i.e. the people for whom Allansons were pursuing the claim).
Although Allansons have been closed by the SRA and can no longer act as solicitors, the company Allansons LLP (Company Number: OC341712) still exists.
Safe Or Scam is an investigations firm. We investigate the claims made in promotional material and in contracts. We are not legal advisers and we cannot give legal advice, but we have relationships with law firms which specialise in financial services claims, negligence claims against law firms, and private criminal prosecutions should the investigations uncover evidence that a fraud may have been perpetrated. One of our legal partners has already expressed an interest in this case.
There are two groups of people affected by the collapse of this scheme. They are the mortgage claimants and the investors who provided the ‘litigation funding’. Safe Or Scam would like to hear from both groups. At this stage we do not know what may or may not be salvageable from this investment.
In every case we will need to review all the documents because we are aware that the Allansons Litigation Funding paperwork changed since it was first launched. We have seen different versions of the same basic proposal. There are third parties involved in this scheme which may have some questions to answer.
Please contact us if you were a claimant pursuing a mortgage mis-selling claim or you were an investor funding the litigation. We are very interested in how this scheme was operated. We believed from a very early stage that this investment opportunity was flawed and that both claimants and investors were not being told the truth.