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.
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.
Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.
The assessment is free and there’s absolutely no obligation to use our service if you have case.
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 Services Compensation Scheme, whichever is applicable to your claim.