If you invested in a Portfolio Bond with Generali International Limited and have lost money in failed funds you may be able to recover money lost in these failed funds.
The Portfolio Bonds comprise: Generali International Vision and Generali Professional Portfolio
Here is a list of some of the failed funds and there are other funds that have incurred losses.
LM/MPF Managed Performance Fund
All other LM Group funds including the Trilogy Wholesale FMIF
Axiom Legal Financing Fund
Premier Group (Isle of Man)
• Eco Resources Fund
New Earth Group of Funds
• New Earth Recycling and Renewables (NERR)
• Premier Investment Opportunities Fund (PIOF)
• New Earth Solutions Group Limited ( ‘’NESGL’’)
• The New Earth Solutions Facilities Management Limited (‘’NESFM”)
• New Earth Energy Facilities Management Limited ( ‘’NEEFM’’)
• Eclipse Investment Fund
Eco Resources Fund PCC
• Premier Eco Resources Sterling Sub-Fund
• EcoEarth Resources Sterling Sub-Fund
• Premier Eco Resources
Kijani Funds, Kijani Commodity Fund
General Information on Litigation Funding and ATE Insurance
Litigation Funding and After-the-Event (ATE) Insurance are two financial mechanisms commonly used in the legal industry to manage the costs and risks associated with litigation. Let’s discuss each of them separately:
- Litigation Funding: Litigation Funding, also known as third-party funding, is a process in which a third-party funder provides financial support to a party involved in a legal dispute in exchange for a portion of the proceeds if the case is successful. The funder assumes the financial risk of the litigation, including legal fees and other associated costs, in return for a share of the settlement or judgment amount.
Key points about Litigation Funding:
- It is typically used in complex and high-value cases where the claimant lacks the necessary financial resources to pursue the litigation.
- The funder conducts a thorough assessment of the case’s merits and potential for success before providing funding.
- The funding arrangement is usually non-recourse, meaning the funder only receives a return on investment if the case is won.
- The funder’s share of the proceeds is agreed upon in advance and is usually a percentage of the amount recovered.
- Litigation Funding can provide access to justice for individuals and companies who may otherwise be unable to afford the costs of litigation.
- After-the-Event (ATE) Insurance: ATE Insurance is a type of legal expense insurance that provides coverage for the costs and risks associated with litigation after a specific event, such as the occurrence of a dispute or the commencement of legal proceedings. It is typically purchased by a party involved in litigation to protect against the financial implications of an unsuccessful outcome.
Key points about ATE Insurance:
- ATE Insurance is taken out after the event that gives rise to the legal dispute, hence the name “After-the-Event.”
- It covers various costs, including legal fees, court expenses, expert witness fees, and the opponent’s costs if the insured party loses the case.
- ATE Insurance policies are underwritten based on an evaluation of the merits and risks of the case by the insurance provider.
- Premiums for ATE Insurance are typically paid upfront or on a deferred basis and are usually contingent upon the outcome of the case.
- ATE Insurance can help reduce the financial burden and mitigate the risks of litigation for individuals and companies.
In summary, Litigation Funding involves obtaining financial support from a third-party funder to cover litigation costs, while ATE Insurance provides insurance coverage for the costs and risks associated with litigation after a specific event. Both mechanisms aim to address the financial challenges of pursuing legal claims and can provide individuals and companies with greater access to justice.
Take the first step
If you have purchased the Fund through a trustee or directly on the insurer’s platform and have lost money you may be entitled to recover money lost.
If you bought the fund via a UK-regulated pension, such as a SIPP or QROPS, you could be eligible to claim with the Financial Services Compensation Scheme (FSCS) and receive compensation. This does not exclude you from joining the group action.
Expat Investment Fraud is helping people recover money lost. If this information relates to you or someone you know, please share this with them so we can try and reach those affected by these funds.
If you have any questions please get in touch with us at info@expatinvestmentfraud.com
Please complete the questionnaire below to join our group action today!
Frequently Asked Questions
The group claim is against:
(a) Generali International Limited (“Generali”); and
(b) Utmost Worldwide Limited, formerly Generali Worldwide Insurance Company Limited
(“Utmost Worldwide”).
The claim seeks to recover all monies invested in the Portfolio Bond products offered by Generali and
/ or Utmost Worldwide, and a sum reflective of the growth that the Portfolio Bond products should
have achieved. The relevant Portfolio Bond products are:
(a) Generali International Vision and Generali International Professional Portfolio offered by
Generali; and
(b) Generali World Vision, Generali Worldwide Professional Portfolio, and Utmost Professional
Portfolio offered by Utmost Worldwide.
If the claim succeeds, your Portfolio Bond(s) may be unwound, such that Generali and / or Utmost
Worldwide would be ordered to pay back all the monies that you invested in your Portfolio Bond(s)
together with all related fees. We are also including a claim for loss of growth, such that we will also
be claiming a sum reflective of the amount by which your Portfolio Bond(s) should have increased in
value but did not.
If you do not wish to unwind your Portfolio Bond(s) in this way, we will seek to recover any losses that
you have suffered from Generali and / or Utmost Worldwide.
If you invested in a portfolio bond product with Generali and/or Utmost Worldwide (whether directly
or through a trustee), and if your Portfolio Bond(s) has not performed in line with the market, then
you are likely to be eligible to join the claim.
We are in advanced discussions to obtain litigation funding for the group claim against Generali and /
or Utmost Worldwide. The funding will be structured so that the claim will be without cost to you
unless the claim is successful.
If the claim is successful, our current projections (based on the litigation funding model we are using
on an equivalent claim against other life office defendants) are that claimants could receive between
69% and 79% of recoveries, which would be incredibly competitive in the context of group claims.
Please note additional amounts may be deducted from this if you have a referral agreement in place with your referrer. Any such referral agreement in place will be reflected in our engagement letter.
The balance of the recoveries would be paid to the litigation funder.
In terms of how litigation funding works, all costs and legal fees associated with the claim will be paid
by the litigation funder.
If we win the case, the litigation funder will be entitled to recover the money it has spent on the case
(i.e., by paying for the legal fees, the after-the-event (“ATE”) insurance premium and the other
disbursements such as court fees), plus a premium, from the claim recoveries.
If we lose the case (which is hopefully unlikely), the litigation funder loses all of the money it has spent
on the claim and the claimants do not have to pay the litigation funder anything.
These will be paid by a third-party litigation funder
We have obtained a draft opinion from a leading KC, who is of the view that claimants such as yourself
have good claims against Generali and / or Utmost Worldwide (i.e., claims with more than a 60%
chance of succeeding) for the recovery of the full sums invested in the Portfolio Bond(s).
In the context of legal opinions, this denotes that the KC has a high degree of confidence in the claim
and that its prospects are good.
To register your interest, please complete the short questionnaire to join the group.
Yes, you will still be eligible to join the group claim whether you purchased your Portfolio Bond(s)
directly or through a trustee.
Yes, you can still join the group claim to recover the losses you suffered. If you intend to close your
Portfolio Bond(s) in the near future, please get in touch with us before doing so.
At this stage, the claim specifically relates to the Portfolio Bond(s) offered by Generali and/or Utmost
Worldwide, though we will soon be targeting other life offices such as Hansard International, SEB Life International and others, so please do still get in
touch with Expat Investment Fraud at info@expatinvestmentfraud.com if you purchased a portfolio bond product from another life office.
Yes, you can still participate in the claim if you have already made a claim before the FSCS or
ombudsmen. Please let EIF (info@expatinvestmentfraud.com) know of any such claim
at the time of registering your interest.
We are not aware of any other group claims against Generali and / or Utmost Worldwide, however,
please let us know if you are participating in any other group action against Generali and / or Utmost
Worldwide. We will need details of what this other claim relates to and your terms of engagement for
it. We can then advise you further on whether you can participate in both actions.