Solar 21 accused of ‘desperate tactics’ to hold on to investors
Dozens of investors, owed over €250 million, reported receiving cold calls from troubled firm seeking support for a proposed scheme of arrangement
Brokers have slammed troubled firm Solar 21 for resorting to “desperate tactics” after clients received cold calls from a man who asked them to engage with a proposed debt repayment scheme.
Dozens of Solar 21 investors, who are owed over €250 million, reported receiving calls last week from a man who urged them to respond to a letter issued by the company in June which sought support for a proposed scheme of arrangement.
The letter, which was signed by Michael Bradley, co-founder of Solar 21, told investors that the firm wanted to be able liaise “more fully” with them and accused those representing concerned backers of acting “in their own interests”.
