Yet another development which was "guaranteed" by NWIC has gone bust.
Liquidators MacIntyre Hudson were appointed by the developer, Alpha Student (Nottingham) Ltd on the 17th August 2015.
They have already issued a Statement of Affairs which shows that there is going to be a huge shortfall in the amounts that are repaid to investors.
Our lawyers have looked at the matter and have been in touch with the liquidators. The best estimate that they can give at the moment is that the amount which will be paid back to investors is likely to be less than 30%.
We all know of course that the NWIC deposit protection bond is not going to pay out one penny so investors are therefore left facing a loss of over 70%
Investors in One Hockley were represented by Scott Fowler solicitors and we have already obtained a positive advice on the merits of a claim against them and papers are with counsel at present for that to be confirmed.
We are forming a group for those affected and any investor in this development should therefore contact us urgently to obtain a membership pack.