Green Oil Plantations was a UK based investment scheme to fund a Millettia tree plantation in Australia. The trees would then be harvested after 2 years and turned into biofuel, fertilizer and livestock feed; which would then be sold.
Between 2010 and 2013 it raised over £24m in investment, mainly from UK investors.
In 2013 Green Oil Plantation entered administration as there were reportedly insufficient funds in the company to complete the plantation’s first harvest.
These types of investments are not only high risk, but also unregulated and as a result are only suitable for “sophisticated” investors. That’s usually people who understand the risk involved and can afford the potential losses.
Most of these people became invested in this scheme as part of their SIPP pension; often following financial advice or some may have received a cold call offering a free pension review.
Unfortunately, this investment was not suitable for a lot of these people and they shouldn’t have been invested in this scheme. This is mis-selling.
Mis-selling, in respect of pensions and investments, is largely based on suitability and due diligence. The financial product being recommended must be suitable for the customer. This is based on factors such as attitude to risk, understanding of how the product works, as well as the investment itself.
All UK regulated companies, such as Advisers and Pension Providers, are subject to strict guidelines and rules. If they don’t stick to them, not only could they be exposing their clients to unsuitable risk, but this may be mis-selling.
If you think you’ve been mis-sold your pension or the investments in your SIPP, you’d be wise to get it checked out as soon as possible. Using a free no obligation check like the one we offer, is a good way to find out if you have a case and what to do if you have.
Call 0114 2664216 to talk to one of our Team or fill in the enquiry form to arrange a time for us to call you.
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the 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 Compensation Scheme, whichever is applicable to your claim.
We will not make or pursue a claim, or advise you to, if we know or have reasonable grounds to suspect that the claim does not have a good arguable basis, and or is fraudulent or frivolous.