The fall of LFS Claims Ltd and the rise of Shepherd and West Ltd
Now that the first authorisation window has closed and the FCA begin to go through the applications, there does seem to be quite a flurry of activity amongst some of the CMC’s.
Since the publication of our blog In November of last year; LFS Claims and its connections to dubious CMC's, it seems this Claims Management Company opted not to apply for temporary permissions and the website is no longer available.
However the director, Ciaran Hamilton was appointed as sole director of the CMC, Shepherd and West Ltd on 27th November 2018, and the firm was given temporary permissions by the FCA and currently trade under the name, SW Reclaim.
According to their website, this Manchester based CMC appears to focus on PPI claims, but their Complaints Procedure throws up an anomaly as it refers to the CMC, Conclusive Financial as shown below:
This could just be an error and perhaps SW Reclaim have merely opted to copy a random complaints procedure as at initial glance the CMC’s appear to be unconnected with Conclusive Financial being based in Cheltenham and run by a Paul Charnick.
However, the individuals who have significant control at Conclusive Financial are Robert Cooper, Craig Cornick, and John Coxhead who have had past or current connections to other CMC’s; Reclaim Your PPI Ltd and ME Legal and Financial Ltd, as well as High Street Solicitors. The latest confirmation statement for Conclusive Financial shows a company called B26 Holdings Ltd are now it’s sole shareholder. B26 Holdings Ltd was initially set up by Robert Cooper in 2017 but he has now been joined by Craig Cornick, John Coxhead and Kristofer Knight at the beginning of this year.
Putting this slight digression aside, we return to the Complaints Policy belonging to SW Reclaim and its baffling reference to Conclusive Financial. Well as we noted in our blog last year the latest filed account for Legal and Financial Solutions Ltd (LFS Claims) showed net assets in excess of £2million yet on the 12th November 2018, Ciaran Hamilton ceased being a person of significant control, along with co-director Peter Cookson, and were replaced by Janus VC Limited, who became the only shareholder.
Janus VC Ltd changed its name to Janus VC (UK) Ltd in January of this year but the sole founding director remained unchanged – Robert Cooper.