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If you've invested in UK Renewable Investments plc, you might be concerned about recent developments involving the company's mis-sold renewable energy bonds. Here at CP Financial Claims, we aim to shed light on this unsettling situation and provide a roadmap for affected investors looking to reclaim their money. If you find this information striking a chord, do not hesitate—contact us right away.
Established on October 4, 2013, with its headquarters in Darlington, England, UK Renewable Investments has been in the eye of the storm. Due to a myriad of financial and litigation issues, the firm received a court-ordered wind-up on April 19, 2019. Though initially set to be dissolved, the dissolution was deferred until 2026 on the Secretary of State's directive.
Investors should be alarmed by several red flags:
Initially, UK Renewable Investments plc promised its 208 investors that their funds would help develop renewable energy plants. They were lured in with a lucrative 11% per annum returns rate over a five-year term. Sadly, most of the £2.5 million invested was redirected to a separate entity, Bio Green Energy Ltd, for construction projects in Northern Ireland that never saw the light of day.
Bio Green Energy itself went into administration in May 2017. Subsequently, administrators requested dissolution as they found no funds available to repay investors. A court order in 2021, made it near impossible for UK Renewable Investments' bondholders to directly recoup their losses.
The court and the Insolvency Service were scathing about the way UK Renewable Investments conducted its operations. They criticised the company's "lack of commercial probity" and absence of "appropriate governance and control," pointing out that it was the investors who would bear the brunt of these failures.
Absolutely. For affected investors, the good news is that you can make a claim to recover your lost funds. And this is where CP Financial Claims can make a world of difference for you.
Navigating the complexity of financial mis-selling claims can be daunting. At CP Financial Claims, we specialise in making this process simpler and more transparent. Our expert team can guide you through the claim application step-by-step, ensuring that you don't have to go through this distressing time alone.
While we've compiled extensive details about the situation, please note that there is more information to come as the investigation proceeds. Therefore, it's crucial to stay updated for new developments.
Submit your details for a free, no-obligation chat.
You are not obliged to use our service. It is possible for you to present your claim for free, either to the firm, or person against whom you wish to complain, or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.
