Investing
Solar 21 warns investors owed €250m that liquidation will only recoup 12 per cent
After 18 months of waiting, backers finally get an update about renewable energy project
After nearly 18 months of waiting, Irish investors who are owed more than €250 million for a renewable energy project had the fate of their investment laid bare in an update issued last week.
Solar 21, which has been delayed repaying 3,000 investors, issued an eight-page document to brokers late on Friday warning the increasingly nervous backers that if they push for an immediate liquidation of the company they may recoup only 12 per cent.