Self-invested personal pension (SIPP) provider Berkeley Burke is set to have to pay nearly £1m in compensation to claimants after it failed to comply with a court order.
After failing to comply with the order and confirming that it would not take any further part in the litigation, Berkeley Burke's defences in the group proceedings have been struck out and claimants are permitted to enter judgement. As a group, claimants embarked on legal proceedings against Berkeley Burke when they lost money after investing in unregulated investments through its SIPPs. Financial services barrister John Virgo represented the claimants throughout the proceedings and secured the court order, which has directed the SIPP provider to pay almost £1m as an interim payment...
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