Saxon Capital Limited
Under investigation 02 August 2019
You might be eligible for compensation
Saxon Capital Limited was dissolved on 7 March 2017.
FSCS has received a number of claims against Saxon Capital from customers who bought unlisted shares in a company called Oxford Renewable Energy Limited. Oxford Renewable Energy was advertised as a market leader in renewable energy, producing commercial quantities of biofuel.
Oxford Renewable Energy raised £7 million from around 340 investors through various introducers and a number of Independent Financial Advisers (IFAs), including Saxon Capital Limited.
FSCS is also aware of a number of other unlisted company shares may have been sold by regulated IFAs in a similar way to Oxford Renewable Energy Limited:
- Otreus Oil and Gas Company;
- Crescent Energy; and
- Palmetto Energy plc.
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31 Jul, 2019
While FSCS is accepting claims against Saxon Capital Limited, claims which relate to advice customers received to invest into Oxford Renewable Energy Limited and other unlisted shares, claims have not yet been passed to our claims teams for assessment.
Firstly, we need to establish whether there are protected claims against Saxon Capital Limited in respect of the sale of these shares. For this to happen we need to know that the Saxon Capital Limited owes a civil liability to customers that would enable them to be sued in court.
FSCS has been working with the Avon and Somerset Police, and other parties, in order to obtain firm records and other documentation which will help us to reach a view on whether there are protected claims.