02 Lug “There were warnings about Kaupthing as early as November 2007
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Canada Goose Online Michael KennedyGet business updates directly to your inboxSubscribeSee our privacy noticeMANCHESTER lawyer Michael Kennedy is battling to recover around for clients left devastated after investing their pension funds in the collapsed Icelandic bank Kaupthing.Mr Kennedy, a partner at Pannone who specialises in professional negligence cases, is looking to take legal action against independent financial advisers to recover his canada goose outlet clients’ nest eggs.So far he is acting for three people and expects more claimants canada goose outlet washington dc to come forward. One has worked for 40 years, has had his pension pot wiped out and is now having to go back to work.Each client invested around in Kaupthing earlier this year, said Mr Kennedy.He said IFAs who advised clients to plough their entire pension pots in the bank broke a ‘cardinal rule’ by failing to encourage them to spread their investments and limit the risks.”There were warnings about Kaupthing as early as November 2007, warnings which became increasingly stronger in the early part of 2008, but IFAs continued to advise clients to invest huge sums in the bank,” he said.”To canada goose uk compound matters, the IFAs concerned failed to advise clients to spread their investments, which would have limited the risks involved.”We are already acting for a number of individuals who we believe have extremely strong cases against their advisers, and canada goose jacket outlet toronto we expect to see canada goose outlet trillium parka black more clients in similar positions.”My clients’ canada goose outlet locations in toronto losses have had a devastating impact. One has been suicidal and another who worked for 40 years for his retirement has had his pension pot wiped out and is now having to go back to work.”The common thread appears to be that they were advised to invest canada goose outlet online uk in Kaupthing even though all the websites were pretty unanimous that it was possibly the riskiest investment and were warning that it was canada goose outlet uk about to topple over.”While there canada goose outlet toronto is speculation that a buyer may be found canada goose outlet london for Kaupthing, Mr Kennedy said he believed that once liquidators’ and advisers’ fees are paid there will be little left for its creditors.Like us on FacebookFollow us on TwitterBusiness NewsletterBusiness NewsThese are the richest people in Greater Manchester and CheshireThe 15 entrepreneurs from the region have a combined wealth of nearly 24bnBusiness NewsWeb publisher Unilad to go into administration putting dozens of jobs at riskAn insolvency court heard its parent canada goose outlet store near me company owed more than 6m including 1.5m to the taxmanManchester CentralTravelodge to open new hotel near Manchester CentralThe 11m investment will create 30 new jobsEmploymentAmazon staff in Manchester get pay rise as company increases its minimum wageThe retail giant lifted wages to 9.50 canada goose clothing uk per hour in Greater Manchester, which will benefit hundreds of canada-gooseoutlets workersBrotherManchester reaffirms ties with Japan at business dinnerThe event included some of the 60 Japanese companies based in the region and the Economic Minister from the Embassy of JapanThe Trafford CentrePeel Group considering deal to buy back Trafford Centre and take over Manchester ArndaleProperty giant is part of a consortium considering a bid for shopping centre group Intu, which also runs the ArndaleManchester CentralTravelodge to open new hotel near Manchester CentralThe 11m investment will create 30 new jobsBusiness NewsWeb publisher Unilad to go into administration putting dozens of jobs at riskAn insolvency court heard its parent company owed more than 6m including 1.5m to the taxman Canada Goose Online.