London Capital & Finance plc updates
Money Box
BBC
4.2 • 825 Ratings
🗓️ 9 March 2019
⏱️ 25 minutes
🧾️ Download transcript
Summary
Money Box reporter Dan Whitworth investigates the companies which marketed London Capital & Finance plc ('LCF') mini-bonds to investors, including on comparison websites. LCF entered administration in January, by then 11,000 bondholders had invested £236m of savings. The joint administrator to LCF, Finbarr O'Connell, also provides an update on efforts to determine how the investments of those 11,000 bondholders unravelled and whether they have any hope of getting any of their money back.
The cost of obtaining a death certificate in England and Wales recently increased from £4 to £11. People usually find, to their surprise, that they need to purchase multiple copies of certificates when alerting financial institutions or utility companies to a bereavement. Guest: Ian Bond Director and Head of Trusts and Estates at Talbots Law and chair of the Law Society's wills and equity committee.
Financial Independence, Retire Early or FIRE is a movement driven by the idea of extreme saving in order to fund an early retirement. How realistic is it? Guests: Kristian Danielson who is 27 and planning to retire before he's 40 and Nick Earl, Financial Planner at London Money where he specialises in investments and retirement planning.
Reporter: Dan Whitworth Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon
Transcript
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| 0:00.0 | In Northern Ireland, from the late 70s to the early 90s, the IRA killed over 40 alleged informers. |
| 0:08.0 | But the man who often found, tortured and sometimes killed these people on behalf of the IRA |
| 0:12.0 | was himself an informer, a secret British army agent with the codename Stakeknife. |
| 0:18.0 | Who gets to play God? And why me? Why my family? When lies are still being told to this day, |
| 0:24.0 | who do you believe? I wouldn't even know where to start and I'm with the IRA. |
| 0:28.5 | Steakknife. Listen first on BBC Sounds. BBC Sounds, music, radio, podcasts. Hello, in today's program. we look at the comparison websites that put an investment firm, which is now an administration, at the top of their best-buy tables. |
| 0:46.9 | I ask the administrator of that collapsed investment firm London Capital and Finance if 11,600 investors will get any of their £236 million back. |
| 0:58.2 | Another tax on dying as the government nearly trebles the cost of death certificates in England and Wales |
| 1:03.3 | when you register a loved one's demise. |
| 1:06.2 | And fire. Financial independence retire early, a growing movement that says you can retire at 40. |
| 1:14.9 | But first, more than 11,000 people are still waiting to hear if they might get any of their money back |
| 1:20.6 | after London Capital and Finance, or LCF, collapsed into administration just over a month ago. |
| 1:27.0 | One of them, Moneybox listener Amanda Cunningham from Lancashire, |
| 1:30.5 | managed to save up £21,000 over many years when she invested it with LCF. |
| 1:36.6 | Money she hoped to use to try to help her 19-year-old autistic son, Jack, live an independent life. |
| 1:43.3 | I can never see me being able to save that amount of money in my lifetime again, |
| 1:48.0 | and I just feel it's lost, basically. |
| 1:51.0 | I feel guilty. I feel angry, really, with myself. |
| 1:55.0 | I should have left well alone, and it's made me feel very, very, very distraught really, I'd say. Jack will |
| 2:03.2 | definitely struggle and I will definitely struggle. In a minute I'll be speaking to Fimbar O'Connell, one of the |
| 2:09.1 | administrators of LCF, to find out the latest for worried investors. But first, Moneybox |
| 2:14.1 | reporter Dan Whitworth's been investigating how so many people ended up investing with LCF. |
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