The Norwich and Peterborough (N&P) building society wrote to its Keydata customers as early as 2006 with concerns about the clarity of the provider's marketing material.
A letter sent by N&P in May 2006 states some of the paperwork it issued may "confuse rather than clarify the key elements of this contract", the Eastern Daily Press reports. About 3,500 pensioners who invested in Keydata following consultation with N&P financial services fear they may lose their life savings, ranging from £5,000 to more than £100,000, after the firm's collapse. Some are preparing a group legal action against the N&P while others are lobbying MPs for support in their challenge. Gareth Fatchett, partner in Regulatory Legal which is representing hundreds of N&P custom...
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