Dolphin Trust liquidator: German properties will deliver very little return

Myles Kirby has warned Irish investors who put money into the doomed investment fund that only a fraction of their investments will be recouped

Charles Smethurst, the founder of Dolphin Trust, and his wife Manou Lenz, pictured in 2015. Picture: Getty

Only a fraction of the investments made by hundreds of Irish people in Dolphin Trust will be realised, the liquidator of the failed property investment has warned.

In an update sent to Irish investors on Friday, Myles Kirby, the liquidator of one of two companies linked to Dolphin Trust, said the immediate challenge will be to ascertain how much can be recouped from the failed investment fund.

“It is increasingly clear that the German properties will only realise a fraction of the total investment. The issue is the extent of the shortfall and the options available to me to recoup that shortfall,” Kirby said in a letter to investors seen by the Business Post.