A consortium of IFAs and investors in Lifemark, including Norwich & Peterborough (N&P), have united to try to save the troubled fund, amid criticism Keydata founder Stewart Ford is making "impossible" promises to investors.
Sources close to the situation have dismissed claims by Ford that investors' missed coupon payments will be backdated, and that the plan is "a Ford consortium" orchestrated by the former Keydata director. Lifemark ran bonds backing Keydata plans owned by 23,000 customers who invested £350m. More than 3,100 investors put money in Keydata products following consultations with N&P IFAs. Ford's representatives are up-playing his role in a rescue deal for Lifemark, but the source says: "There can be no alliance with Ford and the source of rescue funds could not be linked to him. He can n...
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