Green Oil Plantations was a UK based investment set up to fund Australian Mellettia tree plantations, with the idea of harvesting oil from these trees to produce bio-fuel and other agricultural products for profit.
But if you’re a Green Oil Plantations investor, you probably know all that… instead, you’re probably asking “what the didgeridoo happened to my money?!”
Well, although £24million was invested in Green Oil Plantations, we know from the liquidator’s and administrators documents that £3.5m was paid in commission to sales agents who introduced investors to the scheme – that works out at around 15% commission per sale – do you know how much YOUR introducer was paid?
The reports also say that…
“By the end of March 2013 the limited funds left in the companies were insufficient to fund the plantation
to the point of first harvest and to meet the contractual investor returns.
As a consequence, the directors concluded that the companies were insolvent.”
Many have already made mis-sold pension claims for having received negligent advice to invest in Green Oil Plantations Ltd, with many successful outcomes. Find out if you can do the same with a Free Initial Assessment with Get Claims Advice Ltd.Get started now
Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Green Oil Plantations investments via SIPPs and SSASs for a few years, with Get Claims Advice often leading the claim.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
Many of the people who invested in Green Oil Plantations Ltd did so through a Self-Invested Personal Pension, or SIPP after receiving a cold-call from a marketing company, and often after financial advice regarding the pension move.
SIPPs allow a greater range of investments than many other types of personal pension, but the flip-side is that this can include high-risk investments like Green Oil.
Investments like these may be fine for experienced investors who understand and can manage the risks associated with it, and/or people who have the money to afford those risks.
The problems begin when people who aren’t suitable for such a high-risk investment are advised to bet their retirement on them, and it’s usually the fault of a financial adviser for telling them to do so.
That’s where claims come in. If you invested in Green Oil Plantations Ltd through a SIPP pension, you may be able to make a claim for negligent financial advice.
Between 2010 and 2013, the UK side marketing the investment via several marketing firms and Financial Advisers to move money into SIPP pensions so the investments could be made.
£24m was raised in total.
The firm went into Administration, and then liquidation. As per the available documentation, no money was generated from the Millettia plantation by this time. Minimal funds were acquired from farm building rental.
By March, the company was insolvent.
Click the button below to see an example of a Get Claims Advice claim over a similar mis-sold Plantation SIPP investmentSee example claim