Litigation finance bond launched for ordinary investors

The litigation bond within an individual savings account, from Just Isa, aims to raise money for lawsuits against banks and professional advisers.

Rob Rutter, the founder of Just Isa, said: “The message we got early on was a desire for a three-year bond, so this is what we are doing with our big launch this week.”

The bonds of five and three years require a minimum investment of £2,000, with a target return of eight per cent per year. The Isa will be managed by Northern Provident Investments, which is authorised by the Financial Conduct Authority.

Mr Rutter added: “There is no such thing as a guaranteed return, but all the capital deployed in legal cases will be covered by ‘after the event’ insurance, so in the unlikely event that we lose a case all the money will be returned to the investors and the other side’s legal costs will be paid. I am 100 per cent confident that there is no way that our investors will not get their eight per cent.

“We have a few cases lined up already. We will specialise in cases against banks and professional advisers, such as lawyers and accountants. We want to right wrongs. I worked for 40 years in banking and finance and am appalled by what goes on. We have a few individual cases, but also a few cases that have implications for larger class actions.”