Key Post Investment in Irish Forestry Funds

People, a plantation belonging to one of the forestry investment plans adjoins my property.
Twice in 7 years it caught fire for want of a fireline, estimated cost €300. The land it was planted on was at best marginal for forestry. At best it will make pulp on that section.
The management of some of forest sites for investment funds I notice is piss poor. Timber left lying about, instead of selling it to a firewood processor.... Repeated failed plantings, up to 4 attempts to get a crop reestablished on a clearfell site. I advised a young forester how to actually do it and it has taken. I was shocked at his inability.
 
The High Court has granted the Investors the right of acscess to all the paperwork regarding the sale of the Forestry Investments,
The Liquidator has to 2nd February to hand over the documents.
Copy of the Court Order attached.
 

Attachments

  • Perfected Court of Appeal Order dated 1 December 2022.doc
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cavallaria said:
People, a plantation belonging to one of the forestry investment plans adjoins my property.
Twice in 7 years it caught fire for want of a fireline, estimated cost €300. The land it was planted on was at best marginal for forestry. At best it will make pulp on that section.
The management of some of forest sites for investment funds I notice is piss poor. Timber left lying about, instead of selling it to a firewood processor.... Repeated failed plantings, up to 4 attempts to get a crop reestablished on a clearfell site. I advised a young forester how to actually do it and it has taken. I was shocked at his inability.
Click to expand...
 
Hi I just found this post recently & am also try8ng to follow up on uncashed cheque from first f f. No reply from Alan Fitzpatrick
? Would appreciate any up / further details such email for him. Thanks blaithin
 
Blaithin3 said:
Hi I just found this post recently & am also try8ng to follow up on uncashed cheque from first f f. No reply from Alan Fitzpatrick
? Would appreciate any up / further details such email for him. Thanks blaithin
Click to expand...
Any use?

Key Post - Investment in Irish Forestry Funds

Hi Marco, I just saw your note, Mathesons Solicitors, Dublin can conform the genuine cause we are fighting, We have raised more than €65,000 to date to fund the action with over 300 investors involved, We have not gone to the newspapers/radio or t.v. at this time. Lar Sheeran
www.askaboutmoney.com
 
Hi all, I too am coming to this very late in the day not realising there was a forum where others have the same story as myself to tell. I invested with this same company in Aug 1999, received a certificate, and did not hear from them until I contacted their offices in 2006 requesting previous years financial statements, following this I received financial statements in the post from them for years ending Dec 2002 and 2003, since then I have tried to contact their offices but have not had any success. I would be grateful if anyone could let me know if they have succeeded in having their investment funds returned or if I can join a group of investors currently fighting this case?
 
Gazim1 said:
WE have received the papers from the Liquidator and are reviewing them at this time
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Hi Gazim, Is it too late to join your group in fighting this case? as mentioned in my previous post above, I have hard copies of the financial returns for 2002/2003 if these are of any help?
 
Think that this is a twin track thread so depends on what you’re looking for albeit the latter action affects everyone. Some are looking for their cheques reissued (as I was ) with no luck in contacting or getting a response from the liquidator. Also contacted the ODCE. Nothing from there either. The others (from what I understand) are unhappy with the ‘premature’ liquidation of the funds (without shareholder consultation) and the associated returns relative to the projected and are litigating. I contributed to the fund initially but haven’t heard anything since the first HC judgment in March 22. The HC action was coordinated through Lar Sheeran. Haven’t seen anything since.

Edit: Apologies it would seem that Gazim1 has provided an update from this March. Not sure after that or what the review of the documents has found.
 
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The appeal case is ongoing, however a conflict of interest has arisen among the legal team so a new team has to be put in place. Apparently it is difficult to find a firm that does not already have a connection to AXA (to whom the forestry funds were sold) or other relevant parties.

But the fight continues. The group coordinating the appeal has been working on assembling a full list of the orginal shareholders.
 
I found my certificate couple of weeks ago completely forgot about them. I had moved addresses/Countries a couple of times

started going through the contacts on the forestry fund I got Paul Brosnan VEON and they sent me on to Mr. fitzpatrick's

Took him 2 weeks to reply my e-mail for two weeks and I did the forms with the very steep fee, I haven't heard anything in three weeks so I started looking on the Internet and I found this Forum.

How do we register that we still have original certificates
anything new updates since the start to the summer?

it's going to take a while to go through the 3000 updates but thank you for not giving up.
 
Found my certificate this evening. Hugely disappointed in the return and lack of transparency regarding the whole process.
 
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