North West Landfill was a proposed waste recovery plant that used investor capital, including that from mis-sold SIPP pension products, to set up and operate.
Did your advisor suggest that you move your pension from a secure scheme to a SIPP that included risky funds like North West Landfill? If so, you may be eligible for mis-sold SIPP compensation.
What Happened with North West Landfill?
North West Landfill planned to open a waste recovery plant on a Golf Club based site, but negotiations on the site fell through. The company directors could not secure an alternative location, and the firm went into liquidation.
This was a high-risk fund that was unregulated by the Financial Conduct Authority (FCA). According to FCA rules, advisors should have only suggested this investment to High Net Worth Individuals. However, advisors mis-sold SIPP funds, such as North West Landfill, to plenty of unsuitable clients.
North West Landfill was only suitable for High Net Worth Individuals – those making more than £100K per year, and/or who had at least £250K in assets. If you do not qualify as a “High Net Worth Individual” and your advisor still recommended this investment, you may have been mis-sold SIPP products.
Are you entitled to mis-sold SIPP compensation from North West Landfill?
Did you ever invest in North West Landfill? North West was formally dissolved in April 2019, and they can no longer pay any returns on your investment. If your financial advisor suggested that you invest in this dissolved company, you could be entitled to mis-sold SIPP compensation. Do you qualify?
Our claims experts are happy to look over your case and assess your eligibility for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
FSCS North West Landfill Claim
North West Landfill has been declared in default by the Financial Services Compensation Scheme. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about North West Landfill. Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.