El Cupey - London Capital and Finance FSCS Valuation
I suspect many investors buying bonds from LCF expected that the asset backed security they claimed to have was physical things like buildings and property, not contracts and shares in companies that may have no value.
One of the items that is listed as a security for a loan made by London Capital & Finance to Colina Property Ltd is shown as below:
"The Contract between Inversiones 51588 SRL in Dominican Republic and various individuals relating to the sale and purchase of plots of land known as el Cupey dated 7 March 2012."
This is interesting as the FSCS has made a ruling about el Cupey timeshares that their value is NIL.
A visitor to this blog has made this observation about El Cupey as there is also a company of that name run by Simon Hume Kendall previously CEO of London Capital and Finance.
A director of LCF security trustees is Alexander Lee who is also a partner at Buss Murton Solicitors (Tunbridge Wells)
One of the items that is listed as a security for a loan made by London Capital & Finance to Colina Property Ltd is shown as below:
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| Asset backed security for LCF loans - El Cupey |
"The Contract between Inversiones 51588 SRL in Dominican Republic and various individuals relating to the sale and purchase of plots of land known as el Cupey dated 7 March 2012."
This is interesting as the FSCS has made a ruling about el Cupey timeshares that their value is NIL.
A director of LCF security trustees is Alexander Lee who is also a partner at Buss Murton Solicitors (Tunbridge Wells)
The same Buss Murton Solicitors which holds the entire share capital in Buss Murton (Nominees) Limited? The same Buss Murton (Nominees) Limited which holds the entire share capital in El Cupey Limited?
El Cupey Limited which holds as a fixed interest an “Investment in Inversionnes 51588SRL”.which appears to be exactly the same company referenced in the contract listed as security by Colina.
El Cupey being the name of the investment property which was recently attributed with a “nil” value by the FSCS for the purposes of assessing losses of people who were convinced to remortgage their homes to invest in a development in the Dominican Republic on the basis that the investment company would also help them to dispose of unwanted timeshares.
Buss Murton Solicitors also being the former employer of Robert Sedgwick. The same Robert Sedgwick who was subject to SRA censure having permitted the use of the firm’s account to facilitate four investment schemes which were considered “dubious”.
Interestingly the name of the former director of Global Security Trustees Limited was Robert Sedgwick.
El Cupey being the name of the investment property which was recently attributed with a “nil” value by the FSCS for the purposes of assessing losses of people who were convinced to remortgage their homes to invest in a development in the Dominican Republic on the basis that the investment company would also help them to dispose of unwanted timeshares.
Buss Murton Solicitors also being the former employer of Robert Sedgwick. The same Robert Sedgwick who was subject to SRA censure having permitted the use of the firm’s account to facilitate four investment schemes which were considered “dubious”.
Interestingly the name of the former director of Global Security Trustees Limited was Robert Sedgwick.
So the names Robert Sedgwick, Alexander Lee and Simon Hume Kendall crop up yet again in relation to LCF and their associated companies.
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