Ian Guider: Solar21 case shows state’s watchdogs bark but rarely bite
Solar21 company case highlights the attitude of the state to compliance with company law and investor protection
It’s been a nerve-wracking 18 months for the thousands of investors in the Irish renewable energy firm Solar21, who have not known whether the near €250 million they pumped into it in the expectation of generating significant profits on their initial investment would be recovered.
Now, even as a restructuring of the company nears a conclusion, some want to know exactly what has been going on and how it got to this point.
Last week, the High Court heard that three investors who had put around €380,000 into a now-abandoned energy from waste (EFW) project were withdrawing their application for the appointment of inspectors to probe the affairs of Solar 21.
