LM Victims Launch Lawsuits Against Advisers, Trustees, and Insurance Companies

According to a new article in the South China Morning Post:

“Australian-based investors have already won lawsuits because financial advisory firms gave inadequate advice and did limited due diligence, said Fraser Whitehead, head of group litigation at law firm Slater & Gordon.

The challenge was harder for Asia-based expatriates as many financial advisers have no professional indemnity insurance. That made insurers and trust companies a natural target for litigation, Whitehead said.

Several LM investor groups told the South China Morning Post that they were now consulting lawyers and filing suits. In Hong Kong, investors are also lodging complaints with regulatory authorities and the police.

Investors argue that insurers and trust companies have duty of care and fiduciary responsibilities.”

The entire article can be read HERE.

6 thoughts on “LM Victims Launch Lawsuits Against Advisers, Trustees, and Insurance Companies

  1. Mk

    Please can someone send some one to contact in hong kong who is lead contact for this lawsuit against IFA’s and Bond Providers. I am an LM victim expat and I invested via an unlicensed IFA in Bangkok.
    Collective action is surely the answer to this tragedy inflicted on retirement savings.


  2. Reja

    Does anyone know of a victims group in Indonesia or anyone coordinating any action from there ?? My advisor has ceased communication iwth me long ago.

  3. Victor John

    Victims may like to support the LM Investment Victim Centre (LMIVC) goal of a ‘Fair & Just Resolution for LM Investors’ by registering their brief details at the web address


    Look for and click the ‘Support the Goal’ link on the home page.

    Based on financial advisor location details investors have provided at registration, LMIVC have groups with central contact volunteers in the regions of Thailand, UAE, Spain and Hong Kong.

    Please understand that our regional central contacts are volunteers who, in some cases, are also still trying to do full time jobs etc.

    During coming weeks LMIVC will review the new / recent LMIVC registrant population to update grouping where / as necessary.

    You may also provide information you think is useful or ask questions by email to lmivc.nod@gmail.com

    Please have patience, LMIVC is an investor volunteer effort.


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