Legend Lane files 2019 accounts, £186k in the red

Legend Lane logo

Legend Lane has filed accounts for Legend Lane Group Limited to November 2019. Its other group company, Legend Lane Limited, has apparently been discarded; May 2020 accounts show it to be an empty shell and the company has applied to be voluntarily struck off the register.

The accounts reveal little, as the company made use of small company exemptions and did not have the accounts audited or include a profit and loss account. The balance sheet went further into the red over the year, with net liabilities rising from £14k to £186k.

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We review World Property Fund – unregulated “hedge fund” paying 10% income per year

World Property Fund logo

World Property Fund (a trading name of myriad linked companies including Mercury-Sloane Investments Limited, Tanzy Estates Property Company Ltd, Lennox Vanguard Property Investment Company Limited, Millerheywood Ltd "etc.") is offering returns of 10% per year, paid quarterly.

The company's investments are currently being promoted on Facebook.

Continue reading for a review of World Property Fund.

High Street Group loses rooftop showdown with creditor, subsidiary put into administration

A High Street Group subsidiary has been put into administration following a battle with a creditor in the High Court on 30 September.

For clarity, I will emphasise that neither High Street Commercial Finance Limited, which issues the loans covered in my 2018 review, nor the holding company High Street Grp Limited are in administration. The company which is in administration, High Street Rooftop Holdings Limited, is another subsidiary of High Street Grp.

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Back to the fuschia: Daily Mail in tone-deaf flower mini-bond push

In an annus horribilis like 2020, we all like to hark back to simpler and happier times.

Perhaps it's in that spirit that the Daily Mail is pretending it's still 2012, a simpler time when the Olympics was on, the world had almost emerged from the wreckage of the credit crisis, and charming little companies were raising funds in an innovative investment called minibonds.

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We review Case To Answer – litigation funding investment paying 12% per year

Case To Answer logo

Case To Answer offers an unregulated investment in litigation "invoice financing" paying interest of 12% per year for an investment of 12 months.

Unregulated third-party introducers promoting Case To Answer's investment claim it represents an opportunity to invest in "one of the most secure investment sectors in the UK" and "low-level risks".

Continue reading for a review of Case To Answer's litigation funding investment.

Wellesley becomes latest mini-bond firm to fail

Wellesley logo

Wellesley has become the latest minibond issuer to default on investors. Income payments were suspended last week and the company announced on Tuesday that it would attempt to persuade investors to approve a Company Voluntary Arrangement.

According to The Times, investors in property-backed minibonds are facing a write-off of 22% or more, while investors in non-property minibonds face total losses.

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