The financial mis-selling team at TLW Solicitors recently recovered a substantial compensation payment for a client who had investments with Dolphin Trust.
Dolphin Trust GmbH is an investment scheme specialising in the development of German listed buildings promising returns of 10%. Often following recommendations made by an Independent Financial Adviser (IFA), the scheme was commonly available to investors via a SIPP. The bonds under the scheme are only payable on maturity after either two or five years. The investment is not regulated by a Government-backed watchdog, the Financial Conduct Authority (FCA).
As we are currently helping many Dolphin Trust investors try to recover compensation for their losses, TLW Solicitors’ financial mis-selling team has been closely watching issues unfold with the troubled investment company. Warning signs of problems with the investments included maturity payment delays, interest payment issues and the possible sale of properties yet to be developed.
Dolphin Trust GmbH recently advised its investors that they faced a choice between restructuring its debts or insolvency. Earlier this year, SIPP providers, Hartley Pensions Limited wrote to all its customers holding Dolphin Trust investments confirming that they valued them at 10% of their original value “with immediate effect”.
In 2019 Dolphin Trust was the subject of BBC Radio 4’s “You and Yours” investigation, highlighting that properties were often unsuitable for renovation and needed far more investment than projected. Given his financial mis-selling experience, TLW partner Peter McKenna was
Delighted at the successful outcome for our client, Peter McKenna said:
“Hopefully this successful outcome for our client will bring some relief to other investors who are yet to receive compensation. However, I would caution against investors delaying making their claims as time limits do apply in certain circumstances.”
Working on a ‘no win – no fee’ basis, TLW’s experienced team can help you through the FSCS compensation process. Our clients are reassured by our knowledge and experience of FSCS procedures and, indeed, we have had FSCS claims successfully upheld for clients whose claims had previously been refused on purely technical grounds.
In such cases, as well as being entitled to claim towards the amount which you invested, you may be able to claim:
- Fees paid to the IFA and SIPP company who arranged your investment;
- The money you would have made if your pension/savings had remained where they were.
If you or a loved one have also invested your pension, or part of it, with Dolphin Trust GmbH (now known as German Property Group, GPG) and are worried about your investment and the financial advice that you received, please get in touch with TLW Solicitors for a no-obligation discussion to see if we can help you too.
To get in touch with one of the specialist financial mis-selling lawyers here at TLW Solicitors, call us on 0800 169 5925, email or complete our callback form.
Time limits can apply, so anyone wishing to bring a claim should do so without delay.
Meet Peter, Peter is a TLW Partner and Director of the Financial Mis-Selling team.
Peter is on hand to give you the best advice.
“Hopefully this successful outcome for our client will bring some relief to other investors who are yet to receive compensation.”