Commercial claims company eyes ABS status
HMRC: targeting complex investment schemes
A commercial claims management company is considering converting to an alternative business structure (ABS) to further its work in aiding investors recoup losses from complex investments which they have been mis-sold.
Rebus Investment Solutions Ltd employs a multi-disciplinary team to advise clients on all avenues of recourse, particularly claims directed to the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme.
Rebus is currently taking action on behalf of 400 clients against 90 advisers who recommended complex investment schemes, including the Eclipse Film Partners 35 scheme, which was successfully challenged by HM Revenue & Customs in April this year.
It has just recruited City solicitor Alice Poole as its general counsel to develop a legal offering for Rebus so that it can pursue cases which fall outside of the jurisdiction of the financial services regulatory regime. A litigator and risk manager, she joins from insurance company Jardine Lloyd Thompson.
Error, group does not exist! Check your syntax! (ID: 14)
Ms Poole said: “This is an extremely exciting opportunity in a niche and highly complex area where we are using the claims management model to build a sophisticated business that can handle complex mis-selling cases through FOS and, if necessary, litigation.
“The possibility of setting up an alternative business structure under the Legal Services Act to help us achieve our goals is currently being considered.”
Alastair McEwan, managing director of Rebus, said: “Alice is an extremely experienced lawyer and we are delighted to welcome her to the team. At Rebus we pride ourselves on our market knowledge and, having now recruited a number of people who have litigation experience, we are well equipped to expand into the legal services market and we know that our clients will value this unique insight.
“We are seeing a huge increase in enquiries, fuelled in part by the increasing political will to identify and address investment schemes that are deemed aggressive, and Alice’s appointment reflects the ever-increasing requirement for legal expertise in this area.”
Tags: ABS, Alternative business structures
Leave a comment
* Denotes required field