OMI FPI Class Action

/OMI FPI Class Action
OMI FPI Class Action2018-09-05T03:39:29+00:00

Claim against Old Mutual Investment Management Limited, Old Mutual Plc (formally Skandia International), Friends Provident International Limited and Friends Life Limited.

Coburn Corporate Intelligence Pty Ltd (Australia) (CCI) are organising a claim at no cost to you against Old Mutual Investment Management Limited, Old Mutual Plc, Friends Provident International Limited and Friends Life Limited (the insurance companies).

Background to claim

The insurance companies hosted funds on their platforms which failed.  It is alleged that people who invested in Portfolio Bonds, which were linked to those funds on the insurance companies’ platforms, are entitled to compensation.  The losses suffered could collectively be in excess of half a billion pounds.

The failed funds include:

  1. Axiom Legal Financing Fund;
  2. LM Managed Performance Fund;
  3. LM First Mortgage Income Fund;
  4. LM Wholesale First Mortgage Income Fund;
  5. Currency Protected Australian Income Fund (CPAIF);
  6. Institutional Currency Protected Australian Income Fund (ICPAIF);
  7. Premier New Earth;
  8. Club Easy Fund;
  9. Premier Eco Resources; and
  10. Pioneer Primeo Fund

Current stage of claim

Solicitors, Signature Litigation LLP (London), and Queen’s Counsel in London are reviewing the facts and preparing a draft Particulars of Claim.  Funding has been obtained in order to cover the early stage legal costs, such as finalising the Particulars of Claim.

We are gathering information from further potential claimants to assess whether or not they may be eligible to participate in the claim and recover compensation. The CCI class action is overseen by a six-member Advisory Committee, comprising of investors and independent members.

Eligibility to participate in claim

  1. Did you invest in a Portfolio Bond linked to funds on platforms run by either Old Mutual, Skandia or Friends Provident International?
  2. Was the Portfolio Bond linked to any of the following funds?

    1. Axiom Legal Financing Fund;
    2. LM Managed Performance Fund;
    3. LM First Mortgage Income Fund;
    4. LM Wholesale First Mortgage Income Fund;
    5. Currency Protected Australian Income Fund (CPAIF);
    6. Institutional Currency Protected Australian Income Fund (ICPAIF);
    7. Premier New Earth;
    8. Club Easy Fund;
    9. Premier Eco Resources; or
    10. Pioneer Primeo Fund

Registering is cost and commitment free, but will allow you access to:

  1. updates on the progress of the matter;
  2. participation in any settlement that may be reached with the insurance companies; and
  3. information and advice at the point of issuance of a claim.

By registering with us you are providing your consent for us to contact you in relation to this matter, which consent you are at liberty to withdraw at any time by de-registering. Registration will not expose you to any liability for costs; express authority to incur costs on your behalf would have to be obtained before any liability could arise. Registration does not form any obligation on CCI owing to the registering parties, save to undertake not to pass your contact information on to third parties except in relation to the furtherance of this matter and to delete all contact information from our database in the event that you de-register.

Upon registration you will be required to certify that you purchased relevant bonds through one or more of the insurance companies and you believe that you have suffered a loss as a result of those investments.

How do I register my claim?

There is no cost to you whatsoever for registering your claim.  All claim costs are being met by a third-party litigation funder.

To register your claim, you can do so by completing the form below or contacting the CCI Liaison team by email on admin@coburnci.com.  You will be required to provide your personal details including information on which fund you invested with, through which insurance company and the amount of your estimated loss in GBP or equivalent. 

If you have kept the original Application Form provided to the insurers in respect of the Portfolio Bond, it should be uploaded (attached) with your details.  There is no issue if you do not have this document.

OMI/FPI Class Action - register your claim here

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