Investing your pension fund into something as ethical as Green Oil Plantations Limited sounded like a fantastic idea to many investors.
Green Oil Plantations promised to produce large quantities of oil for biofuel, animal feed and agricultural fertiliser via a Millettia tree plantation in Australia.
Green Oil Plantation promised to produce large quantities of oil for biofuel, animal feed and agricultural fertiliser via a Millettia tree plantation in Australia.
This was an investment which should have helped to reduce the world’s usage of crude oils – the perfect green approach.
To the investors’ despair the company went insolvent. The administrators explained that: “Delays in achieving the first harvest and monetisation of the crop had led to a lower than anticipated income and cash generation. The Companies (and the Australian subsidiary) do not have sufficient funds to reach harvest and meet their financial obligations to investors.”
Unfortunately this left clients at high risk of little or no return of their money.
If you have lost money and believe that the companies involved ceased trading or have been wound up please contact us as you may still be entitled to compensation – but you should act now as time limitations may apply.