Pension investments

swimmingchamp1

Hi I really hope someone here can help or at least point me in the right direction. Some years ago I invested a small pension u gas with a company Called Montgomery King I am now considering retirement on health grounds and have found out they have gone bust ! The money I invested was for land of which I purchased in America Orr so I thought. I had all the glossy marketing stuff but can’t find any one who can help me get my money back . Please can anyone here help or at least advised I can’t the only fool can I ! 

eskbanker

https://find-and-update.company-information.service.gov.uk/company/08222613 shows a company of that name being struck off last year, but I can't see any record of them on the FCA register - does any of your documentation suggest that they were a regulated financial services business, i.e. with an FCA registration number?

tacpot12

I doubt you will be able to get your money back. The company, Mongomery King Ltd. has been dissolved.

The principal director, John Craig Gabriel, now seems to be involved in running another investment firm, Red Hat Capital Ltd.

swimmingchamp1

I did contact the financial ombudsman who told me the same could I go through his new company he should be in prison 

eskbanker

swimmingchamp1 said:

I did contact the financial ombudsman who told me the same

What did they tell you - that the company wasn't regulated?

swimmingchamp1 said:

could I go through his new company

No, the principle of limited companies is that their assets and liabilities are ring-fenced, so the fact that two companies share a director doesn't entitle creditors of one to pursue the other.

swimmingchamp1 said:

he should be in prison 

For what?  Do you have any evidence of a crime?

El_Torro

That's the nature of buying individual shares unfortunately. The risk you take is that if the company goes bust their shares are worthless. 

If a company is bought out by another company then that's different, you still have shares that are worth something. That doesn't seem to be the case here though. 

eskbanker

El_Torro said:

That's the nature of buying individual shares unfortunately. The risk you take is that if the company goes bust their shares are worthless. 

If a company is bought out by another company then that's different, you still have shares that are worth something. That doesn't seem to be the case here though. 

I don't think OP bought shares as such though:

swimmingchamp1 said:

The money I invested was for land of which I purchased in America Orr so I thought.

but the actual fate of the money is obviously significantly less clear when dealing with unregulated cowboys businesses....

kempiejon

Does the OP actually own the land? Obviously this is non standard pension but we all buy things in pensions and sort of own the things not the firm that holds them.
So perhaps there a small part of America with their name on it. 

swimmingchamp1

I have documents which show I own 4 plots of land does that help 

eskbanker

swimmingchamp1 said:

I have documents which show I own 4 plots of land does that help 

It depends on their credibility - do you have any way of validating them with the US equivalent of our land registry, and in particular whether any pension vehicle may be between you and the assets?  And more to the point, do you have any way of selling them if you're looking to liquidate?  Sounds like it may be an idea to find a real estate agent somewhere over there, who can investigate and advise....

kempiejon

swimmingchamp1 said:

I have documents which show I own 4 plots of land does that help 

As has been said you need to prove your ownership but that might be a starting point. Whether there is any salvagable value is another matter once ownership is established.