UKLI administration - advise needed!

repoman123

Hi,

I'm new to the site and am looking for some advise.

Someone in the family invested on 2 plots of land with UK Land Investment and around a month ago they went into administration. I've recently been made aware of what's going on and have done a little homework on the internet and have found out some interesting stuff about UKLI, none of which is good news. I found a thread on this forum particularly interesting, http://forums.moneysavingexpert.com/showthread.html?t=250005&highlight=UKLI - note, a member on there says how UKLI are one to stay away from, wish I did this homework sooner!!

I've read questions and answers that others who are in the same position have asked and the universal answer is, if there's any money left in the end after all the major bills have been paid by the solicitors who are in charge of the administration process then that'll be used to pay back anyone whose invested with the firm. Also read this is generally around 5p to the pound which is shocking!

I was wondering if on the off chance there was anyone else in the same boat? If so, what are you currently doing about the situation?

Another problem is, we only have one of the title deeds, there was a problem on the second one and it is still in the possesion of the original sellers of the land. We've been in touch with the secretary of the solicitor who said they've got the deed but haven't been able to speak to the solicitor himself - Therefore we can't tell if the deed will now be sent to us as requested or to UKLI which we don't want!!

Also spoke to another solicitor to ask for advice and all he said is it would be very difficult to do anything without the second deed, which we know and are trying our hardest to get a hold of!!

Apart from getting this second deed into our possesion, what else can we do to either recoup the money we lost with UKLI? Or recoup the money from anywhere else? If there IS anywhere else can can get it back from?!

Apolagies for the long post, kind regards and many thanks to any replies.

Thanks