New doubts over status of Dolphin Trust assets
The 1,800 Irish investors in now-collapsed property group Dolphin Trust were told they had first charge on quality German properties – but that turned out not to be the case
German authorities are to investigate claims that some properties in Dolphin Trust, the collapsed property group, may have several legal ownerships attached to them, lawyers there have said.
Some 1,800 Irish investors put €107 million into Dolphin, which collapsed into insolvency last year with more than €1 billion in liabilities. The value of the investments was written down to zero in September.
Irish investors hope that the regular reassurances they were given by promoters and brokers...
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