‘Distressed’ sale of assets related to Dolphin Trust took place in 2017

Private equity firm Vordere acquired properties from now-bankrupt Dolphin two years before Irish investors alerted to problems with investments worth €107m

14th March, 2021
‘Distressed’ sale of assets related to Dolphin Trust took place in 2017
Dolphin Trust was founded by Charles Smethurst, who is being investigated by the Hanover public prosecutor’s office on foot of a criminal complaint.

A “distressed” sale of assets related to the collapsed Dolphin Trust property group occurred in 2017, correspondence from the company that acquired them shows.

Vordere Plc, a London-based small cap private equity firm, acquired properties from Dolphin Trust in 2017 in what it described to its shareholders as a distressed sale.

This was two years before Irish investors, from whom Dolphin Trust raised over €107 million that is now in doubt, were alerted to problems...

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