Posted on 23 Dec. 2020 at 7:11Updated 23 Dec. 2020 at 7:58
A year and a half after the start of the “H2O affair”, savers are going on the attack. Tens of thousands of individual customers have been affected by the difficulties of the management company H2O, a subsidiary of Natixis, BPCE’s listed bank. In early December, a handful of wealth management advisers (CGP) and savers decided to create a defense association, called “Collectif Porteurs H2O”, “Les Echos” learned. Its purpose: to obtain explanations from the London management company, whose products have been sold by CGP, banks and insurers, in particular in life insurance contracts. And above all, obtain compensation for the damage suffered.
Advised by the Cornet Vincent Ségurel law firm, the association represents investors whose money has been blocked since the beginning of autumn in special vehicles, the famous “side-pockets” created by H2O to house 1.6 billion euros of illiquid assets. “Faced with the absence of an offer by H2O to cover all or part of the damage suffered by the unitholders of the side-pocket funds […] those wishing to obtain redress […] are forced to act judicially against H2O ”, indicate the statutes of the association.