German Property Group GmbH threatens investors with insolvency
German Property Group GmbH (formerly Dolphin Capital GmbH) has recently sent a letter to its investors urging them to provide details of their investment. It also threatens to file for bankruptcy if they do not agree to restructuring the company, i.e. asking the investors for a moratorium and selling it to a consortium.
We strongly advise our clients not to sign and return any documents to them!
All investors represented by us can rest assured that German Property Group GmbH is fully aware of their investment. We have served them with your claim and investment details.
In its recent letter (see it here), German Property Group GmbH states that there are “other implementation problems that are partly the reasons for the current situation” but confirms that it is currently liquid and therefor prefers to restructure the company.
To us it seems as if they have blindly collected investments in the past and never established a proper accounting in compliance with the law. This also raises the question what the advising company CFE Ltd is doing as they can’t be aware of the total investments at stake.
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