You have to contact the company first (by email/letter) and give them 14 days to respond before you can make a complaint to the ODCE. I've written to them expressing my extreme dissatisfaction, but no response yet.The irish times have written an artical on it. Couldn't figure out how to post the the link on here but i googled 'irish forestry funds sale' and it came up.
I get we have no real say in how the company opperates but to go from their letter in May to what we're all finding out today doesn't seem right to me.
Has anyone contacted to ODCE or the papers yet?
I am a shareholder in 6th fund and am outraged my share has been sold without my permission. Also, the return is less than a quarter of what I expected and I never agreed to the sale and never would have done so at the ridiculous rate of €1106.90 on a 500 punt investment over 20 years.I invested in the Fifth Irish Forestry Fund in 1998 and my investment has barely doubled. What's more I received no notification of the liquidation of the company, simply a cheque and a fond farewell. The original projection after 30 years was €30,000 for a €500 investment - the €1061 I received after 21 years is pathetic. Have their trees been shrinking? Has their land, unlike land everywhere else, devalued? As they are hiding behind an answering machine, I have emailed them letting them know that I'll be complaining to the Office of the Director of Corporate Enforcement. I am deeply suspicious about all this. Anyone who feels the same should also email them and if you don't receive a satisfactory response, complain to the ODCE, or take legal advice. I smell a big rat here.