# Forestry investment -- The Premier Irish Forestry Fund



## 8till8 (29 May 2019)

Mod's note: This thread is about the Premier Irish Forestry Fund only. Do not discuss other forestry funds in this thread. Start your own.
Brendan 

I invested in the Premier Irish Forestry Fund II in Oct-2000 when forestry funds were all the rage, does anyone know whatever happened to it?

The website www.piffs.com is still live so someones paying the bill and the accounts on the CRO are up to date, company no 317478 (even though its status is dissolved as of May-12..bit confusing).  The other fund,   is also still live on the CRO.  Both companies are located at Mocklershill, Cashel Co Tipperary.

Any information appreciated.

(mod note; I created a seperate thread as the other forestry thread is related to an entirely different fund)


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## Kieran Branagan (2 Jul 2019)

Hi Likewise I invested in the Premier Irish Forestry fund PLC in 1999 and have heard nothing since.  Have recently send registered letters to the registered address and their now accountants but again no response.  Contacted PWC who are happy to advise they ceased working for them some years ago and have no records.  Left messages at the solicitors and await a reply.  There is a facebook page of the same name but it is not well run or organised.  My next step are to go to the Garda Fraud  and the Office of Corporate enforcement.  Please let me know if you wish to be involved.  Kieran Branagan,  Skerries


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## Palerider (2 Jul 2019)

These investments were made twenty years ago, were there no updates in the interim, was this one of the 30 odd collective Irish forestry funds at the time, if so the shares could be valued along that time, twenty years is a lot of growth...for the trees.


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## Kieran Branagan (2 Jul 2019)

As I said not a dickey bird since Oct 1999.  I did invest in another fund - the Sixth Irish Forestry Fund at about the same time and received regular annual updates from them.  In fact that fund is about to sell the assets and make a significant profit.  I am looking for other shareholders in the Premier Irish Forestry Fund to join in class actions to recover our investments.


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## Palerider (2 Jul 2019)

Kieran Branagan said:


> As I said not a dickey bird since Oct 1999.  I did invest in another fund - the Sixth Irish Forestry Fund at about the same time and received regular annual updates from them.  In fact that fund is about to sell the assets and make a significant profit.  I am looking for other shareholders in the Premier Irish Forestry Fund to join in class actions to recover our investments.



I don't think class action suits are recognised here in Ireland, you could pool resources and progress that way but bear in mind even if successful you need to ensure they can pay you and does that sound likely.


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## Kieran Branagan (3 Jul 2019)

Hi 8till8
Solicitors - Oliver Ryan Purcell - reverted by redirecting my email yesterday to Paul Bowes - original director -  at paul@piffs.com - no response so far.  Do you know of other investors?


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## Cuchulainn (30 Jul 2019)

Kieran Branagan said:


> As I said not a dickey bird since Oct 1999.  I did invest in another fund - the Sixth Irish Forestry Fund at about the same time and received regular annual updates from them.  In fact that fund is about to sell the assets and make a significant profit.  I am looking for other shareholders in the Premier Irish Forestry Fund to join in class actions to recover our investments.


Same here in all regards. I rang Bowes a few months ago ... he had a sob story ... but no feedback from him.


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## Cuchulainn (30 Jul 2019)

Kieran Branagan said:


> Hi Likewise I invested in the Premier Irish Forestry fund PLC in 1999 and have heard nothing since.  Have recently send registered letters to the registered address and their now accountants but again no response.  Contacted PWC who are happy to advise they ceased working for them some years ago and have no records.  Left messages at the solicitors and await a reply.  There is a facebook page of the same name but it is not well run or organised.  My next step are to go to the Garda Fraud  and the Office of Corporate enforcement.  Please let me know if you wish to be involved.  Kieran Branagan,  Skerries


I am interested in getting involved.

Maybe contact Joe Duffy on LiveLine to get the ball rolling?


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## 8till8 (31 Jul 2019)

The CRO page for the company has been updated to show the company has been restored by order of the High Court, so thats good news for the investors, since the directors aren't responding it seems time to go legal and take action.


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## Kieran Branagan (1 Aug 2019)

I have lodged a complaint with the Office of the Director of Corporate Enforcement this week.  I am advised they are starting an investigation and will advise in due course.


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## Cuchulainn (17 Aug 2019)

Kieran Branagan said:


> I have lodged a complaint with the Office of the Director of Corporate Enforcement this week.  I am advised they are starting an investigation and will advise in due course.


Well done. If you need my involvement give a shout.


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## AileenWalsh (23 Aug 2019)

Trees take up to 25 years to grow, how can they be a medium-term investment? Just why anyone believed that Arden could pay dividends on semi-mature forestry is beyond me.


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## William66 (26 Aug 2019)

Hi all...I just joined this forum as I also invested in the Premier Irish Forestry Fund. I rang their offices some years ago and they promised to send accounts statement but they never did. I also asked my financial consultant to research and he couldn’t reach anyone at this organisation and never got replies to his letters.
I would like to join any group of investor that can bring these inmoral and unethical directors to justice....will write to your private email Lar.


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## Daddy Ireland (28 Aug 2019)

Is there an article in today's Irish Times as stated earlier on The Premier Irish Property Fund ?


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## Steven Barrett (28 Aug 2019)

I'm struggling to see what the issue is here? When you invest, you assume investment risk and that means you may get back less than you invested. The investors here actually made a gain. It is not what what on the glossy brochure but no one should believe a brochure that promises high annualised returns. They are nothing but projections, based on market conditions where bark beetle don't exist. 

Besides the lower than average returns, is there any other reason for complaint?

Steven
www.bluewaterfp.ie


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## Sunny (28 Aug 2019)

I don't think anyone can really complain about the investment returns. Those initial promises were rubbish then and rubbish now. Having said that, there is a slight stink to the sale from a corporate governance point of view. If the prognosis for Irish forestry was so poor, why are AXA investing in to for their clients? Why shouldn't investors be told the sale price? It is not commercially sensitive. Secondly a company owned by the directors of the fund will be responsible for managing the forestry on behalf of Axa and so will continue to be paid. I think there are a few questions that need answering but the problem is that I don't know who will ask them. Might just have to be happy to get the money back.


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## 8till8 (28 Aug 2019)

Lar Sheeran said:


> 40 investors so far are unhappy and joined up to take on the company,
> If you are happy to accept zero returns, that's fine



*Lar;* can you please name the investment you are taking issue with?      Its either Irish Forestry Funds or The Premier Irish Forestry Fund Plc, it appears you are an investor in Irish Forestry Funds and your posting in the wrong thread !!!

*
Mods;* can you please move the posts relating to Irish Forestry Funds to the correct 'Key Post' thread and leave this thread as per the title? The confusion between similiarly named investments is not helping anyone's situation.


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## Brendan Burgess (29 Aug 2019)

This thread is about the Premier Irish Forestry Fund plc

All posts about other funds, or posts which were unclear have been deleted.

Feel free to start your own thread if you want to about other funds.

Brendan


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## Tribabie (29 Nov 2020)

All,

Just found this thread, I too invested in PIFF phase 2 back in July 2000.

I got annual accounts in the early years (after a bit of badgering them)

All went quite for a long time, with no responses. My solicitor eventually got hold of them, turns out phase 2 was incorporated into Premier Irish Forestry Fund PLC, (no correspondence with anyone!!!) My shares were transferred into that fund, and they issued me a new certificate. That was back in 2016, again had to get my solicitor involved to get subsequent accounts. I got end of year 2017 in Feb 2019!

I'm going to start requesting up to date accounts again. 

If anyone is getting any progress I'm keen to hear.

P.S. I contacted the office of Corporate Enforcement - got nowhere, a bit of a waste of time


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## Maeve Nolan (28 May 2022)

Hi
im very late to this discussion but am wondering if there has been any update in recent years? I invested €1000 in May 2000 and apart from a share certificate I never heard another thing. Just wondering if there is any hope of getting my money back? Thank you


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## RDuffy (3 Jun 2022)

Same as Maeve in the last post. I did however manage to speak with them in PIFF today and they said all was going fine with the investment and that I would get a copy of the accounts to my email. I will update the post when they arrive.


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