Green Energy Gas Fund Closed After Investors Lose £2.5M
Law360, London (April 8, 2019, 3:47 PM BST) -- A fund has been closed after it poured £2.5 million ($3.26 million) of investors' cash into renewable energy projects in Northern Ireland that were never completed, the government's bankruptcy watchdog said Monday.
UK Renewable Investments (AD) PLC was wound up last week by a High Court of Justice Business and Property Courts judge in Manchester after it failed to repay the investments of than 200 people who bought corporate bonds in green energy projects between July 2015 and September 2016.
Most of the money raised was loaned to another company, Bio Green Energy Ltd., to build 15 anaerobic digestion plants in Northern Ireland,...
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