Did you lose money investing with Westway Holdings?

Here at LawPlus Solicitors, some of the most common enquiries we’re currently receiving are linked to investments made with Westway Holdings Limited, which collapsed into administration in May 2020.

If you invested money with Westway and were one of many people who lost vast sums of their cash, read on to learn if you may be able to claim compensation.

You can’t claim directly against Westway, but all is not lost

Neither Westway Holdings Limited nor the investments it was offering were regulated by the Financial Conduct Authority (FCA). As such, these investments wouldn’t have been covered by the Financial Services Compensation Scheme (FSCS), which can award up to £85,000 when a financial firm or adviser goes out of business.

However, that doesn’t necessarily mean you’ve lost all your money if you had investments with Westway.

In many cases, you may have been advised to invest in Westway or had your investment into the company arranged by a regulated financial adviser.

If any FCA-regulated adviser advised or helped you invest in Westway, you could be entitled to compensation.

What were the investments?

Westway Holdings were selling bonds that many analysts had categorised as high-risk before the firm’s collapse in 2020.

Searching for reviews of Westway investors’ experiences suggests there was never really a “bond” but that the cash had been invested into an ISA. A common trend among investors was that they’d received interest payments on their investments – although not at the expected levels – until sometime in 2019, after which they stopped.

Regardless of the circumstances, if you’ve lost money through investments into Westway that were advised or arranged by an appointed representative of the firm or any other FCA-regulated company, you may be able to claim compensation.

Contact us now for a free, no-obligation review of your potential claim and take the first steps to reclaiming your lost cash.

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