Lawsuit threat over Knight
Thursday 07 September 1995
Investors claiming compensation from Knight Williams, the former independent financial adviser, are considering taking legal action against individual directors.
The prospect of a legal battle follows a meeting yesterday between Kenneth Jordan, a leading member of the 250-strong Knight Williams action group, and Angela Knight, a Treasury minister.
Mr Jordan said yesterday he was talking to lawyers about whether individual directors could be sued for negligence towards those caught by the company's alleged bad advice and subsequent collapse.
Knight Williams directors include Robin Knight Bruce and John Williams, who founded the company in 1980.
"We are exploring every avenue to ensure that the grievances of hundreds of elderly investors are met, including discussions with our solicitors and further talks with our MP," he said, adding that he was also satisfied with the fruitful discussions at the Treasury.
Mrs Knight said: "I am determined that the regulatory system will continue to deal fairly with all claims for compensation." There had been a realistic exchange of views and she hoped that the case would soon be resolved.
The meeting yesterday was the latest stage in a battle for compensation by hundreds of people who invested in financial products sold by salesmen from Knight Williams. Many savers claim the full risks were not properly explained and that they were victims of excessively high management charges.
The company went into liquidation in July this year, which may deny savers the chance of full redress.
- 1 King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
- 2 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Presidential optical illusion offers clues to how brain processes faces
- 5 Grumpy Roald Dahl letter warning student to 'eschew beastly adjectives' rediscovered after 35 years
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Ukip Jelly Babies cause uproar on Amazon
Chilling drone footage captures Auschwitz ahead of 70th anniversary of liberation
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...