I'm not sure if I have this in the right forum so apologies in advance if not:
Back in 2007 myself and my husband made an investment in a project a company were undertaking. We met with the company owner and talked to other investors of the company and once confident that the company had a good reputation we handed over power of attorney to the company to use the money we invested and were told we owned a percentage of the project. The project was a housing estate that the company were building in Romania and we were told that we would have our money back plus any profit within 2 years. At first things seemed to be going well, we were getting monthly reports of progress along with photos of the site. Then gradually things slowed. We were given various excuses for delays in progress. When the 2 year timeline was up we asked for our money back (or whatever the value of the shares were) and various excuses were given each time we asked. The emails are still going back and forth and we’re still given an excuse. I suppose my question are we entitled to anything? Can we take legal action? I’m pretty sure that we aren’t legally able to do anything but thought it would be worthwhile asking if anyone with any legal knowledge could give us some idea of our rights.
Thanks in advance.
Back in 2007 myself and my husband made an investment in a project a company were undertaking. We met with the company owner and talked to other investors of the company and once confident that the company had a good reputation we handed over power of attorney to the company to use the money we invested and were told we owned a percentage of the project. The project was a housing estate that the company were building in Romania and we were told that we would have our money back plus any profit within 2 years. At first things seemed to be going well, we were getting monthly reports of progress along with photos of the site. Then gradually things slowed. We were given various excuses for delays in progress. When the 2 year timeline was up we asked for our money back (or whatever the value of the shares were) and various excuses were given each time we asked. The emails are still going back and forth and we’re still given an excuse. I suppose my question are we entitled to anything? Can we take legal action? I’m pretty sure that we aren’t legally able to do anything but thought it would be worthwhile asking if anyone with any legal knowledge could give us some idea of our rights.
Thanks in advance.