Slater and Gordon Lawyers are issuing a call for anyone in the UK who invested in Green Oil Plantations Limited.
Green Oil Plantations sought investment to fund the set-up of a Millettia tree plantation in Australia. Millettia trees produce oil that would be harvested after two years of growth and sold on primarily as biofuel, but also as fertiliser and livestock feed.
The business relied on forecasts for the plantation that predicted high oil yields within the first two years, which did not materialise. Green Oil Plantations went in to administration in 2013.
The company relied on a large number of investments from UK customers to fund the plantation in Australia. The investment was high risk and entirely unsuitable for ordinary retail investors.
Many people that did invest liberated their pensions or used their life saving to fund the Green Oil Plantations scheme and are now in dire financial straits.
Slater and Gordon are investigating and acting for litigants against Green Oil Plantations’ professional advisers in the UK. Anyone who used the services of Independent Financial Advisors or Self-Invested Personal Pension (SIPP) providers should get in touch, and complaints will be made to the Financial Ombudsman Service or the Pensions Ombudsman Service.
Ronan Cosgrove is a Group Litigation and Commercial Services Lawyer at Slater and Gordon in London.
If you have invested in Green Oil Plantations and need legal advice call our Group Litigation Solicitors on freephone 0800 916 9015 or contact us online and we will call you.