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Aegis Power Bond SIPP Claims Guide

For those advised to make a green and more eco-friendly SIPP pension investment through Aegis Power Bond No 1 Plc may well have received a shock when the investment got into difficulty and became insolvent.

The truth is, regardless of what a financial adviser or pension marketing firm may have told you, is that the Aegis Power Bonds were always a high-risk investment, not suitable for many investors.

Despite the high-risk nature, many people may have been advised to invest in Aegis, and may have been mis-sold their SIPP pensions.

Now, Aegis Power Bond No 1 Plc is in Administration with Stephen Goderski and Alison Burnside, and investor’s money may still be at further risk.

Find out if you can make a claim over a mis-sold Aegis Power Bond with Spencer Churchill Claims Advice – specialists in mis-sold pension claims on a No Win – No Fee* basis.

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Aegis Power PLC in liquidation

Not only is Aegis Power Bond No 1 Plc in administration, but Aegis Power PLC itself is in a compulsory liquidation and is being wound up by the courts.

Little information about why Aegis Power is in compulsory liquidation is currently publicly available.

We do know that Aegis Power Bond No 1 was included in some Beaufort Securities investment portfolios, a company that was restricted by the FCA, is in insolvency proceedings itself, was involved in an FBI sting and is linked to multiple cases of pension mis-selling.

Aegis’s story seems rocky, with disputes between board members in 2016 leading to at least one dismissal for gross mis-conduct, and the suspension of trading of the Aegis Power Bond No1 from the Cyrpus Stock Exchange.

If you invest in Aegis, it could be wise to check to see if you can make a claim. One way is to have a chat with one of our case handlers for a FREE initial assessment.

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Can you claim for Aegis Power compensation?

Several financial advisers and the FSCS have been paying out compensation for having been mis-sold high-risk investments via SIPPs for a few years.

If you:

  • Transferred your pension to a SIPP
  • Invested in Aegis Power or other high-risk investments
  • Aren’t earning over £100k per year
  • Aren’t a Sophisticated Investor

Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.

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Aegis Power timeline of events

2013 - Aegis Power PLC

Aegis Power PLC is formed on 2 January 2013

2015 - Aegis Power Bond (no1) Plc

The various Aegis Power bonds begin to come to life, with Aegis Power Bond (no1) Plc becoming incorporated in Jan 2015. Others entities follow in 2016 such as Aegis Wind No1 Ltd.

2016 - Suspension

In January 2016, disputes between board members resulted in one director being dismissed for gross misconduct.

On Friday the 3 June 2016, Aegis Power was suspended from trading on the Cyprus Stock Exchange, due to “Non submissions and publication” of its annual financial reports.

Aegis Power Bond No1 Plc falls into administration on 2 August 2016

2017 - Liquidation of Aegis Power

Aegis Power PLC enters into compulsory liquidation on 12 June 2017 following petition.

2018 - Liquidation update

In November 2018, an update was provided that explained how 2 firms (Aegis Wind Finance No1 Limited, and Aegis Investments Nominee Limited), both owed money to Aegis Power Limited, totalling £97,250. Both firms are in administration at the time of the report.

2019 - Claims

While many people were possibly mis-sold their Aegis SIPP investments years earlier, it often takes the collapse of the investments to make people aware.

If you invested, you may be able to make a claim on a No Win – No Fee* basis.

What were the Aegis Power Bonds?

Green energy production is a hot topic, and with good reason!

But that doesn’t always mean that investing in green technology doesn’t sometimes come with its pitfalls, as evidenced by the Aegis Power Bonds.

Aegis Power Bond No1 Plc was set up to allow investors a slice of the action on new wind turbines that would be more cost effective than many previous models.

Offering a relatively massive 10% returns on investments (common among high-risk and unregulated investments), Aegis Power Bond no1 Plc appears to have failed.

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Aegis Power Related Claims

SIPP Claims

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SIPP Providers

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Beaufort Securities

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Aegis Power Compensation FAQ's

What went wrong with Aegis Power?

The full details appear to be yet to be released. We know that there were disputes between the directors of Aegis Power, resulting in a dismissal for gross misconduct. Some of the subsiduary firms owed the part company money, but had gone into administration. Aegis Power is now winding up due to a court petition.

In the fullness of time, the reasons may become clarified in subsequent administrator’s and liquidator’s progress reports as is common in similar situations.

Still a case of wait and see!

Can I make a claim against Aegis Power?

Not for negligence regarding financial advice. Most claims regarding pension investments go against a financial adviser who got their advice wrong due to either negligence, greed, or both.

None of the companies in the Aegis group appear to have been regulated by the FCA to provide financial advice, but if you received advice from a regulated IFA in relation to an Aegis investment, you may have grounds to make a claim.

Is the Aegis Power Bond going to recover?

To comment would be pure speculation. Being unregulated by the FCA, it was always a high-risk investment.