At least 80 Keydata investors are concerned they will not have recourse to the courts if their claims at the Financial Ombudsman (FOS) fail to fully compensate them, because the service is taking so long.
The investors are hoping for a resolution at the financial Ombudsman, which can award compensation claims up to £100,000.
However many of the investors are making claims for more than the FOS limit and intend to pursue the remainder through the courts.
The statute of limitations allows investors to make a legal claim up to six years after the event. A significant number of Keydata investors invested in 2006/7, bringing their claims near to the limit.
A spokesperson for the FOS said the service "will take the statute of limitations into account when looking at claims, along with all aspects that are fair and reasonable".
"If a consumer or their representative wishes to pursue the matter through the courts, their right to do so is not affected by bringing their complaint to the ombudsman (unless they accept an ombudsman's final decision), but the claim is subject to the courts' usual time limits.
"If consumers are concerned about the statute of limitations affecting their right to go to court, they should speak to their solicitor."
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