Solar 21 in wind down

[ClubMan]

Website blocked too

Domain registration expired early this year:

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[daveclarke5]

I’ve submitted the details to the central bank, he’s still registered with them so they are obviously unaware of his actions, surely he can’t just walk away like that without some repercussions?

 

[Brendan Burgess]

Sorry folks

Too many careless defamatory comments.

Thread closed.


Brendan

 

[Brendan Burgess]

The Promoters have written to investors as follows:

"Based on current internal estimate, using the lower end of the EY project rights valuation and the
relevant balance sheets at 31st December 2024, investors may recover approximately 90% of the initial
investment ...." and adds that "Considerable work is needed to bring the project to the point where project rights can be sold."

This seems to be some good news for worried investors who had feared that they might lose most or all of their investment,

 

[Brendan Burgess]

The latest update from the Solar 21 restructuring supervisors reports as follows:
"
Quantum and timing of returns to the Scheme Investors

The outcome for the Scheme Investors is now heavily dependent on the
value that can be achieved for the North Lincolnshire Green Energy Park ......

.... it is likely it will take longer than anticipated in the Schemes Scenario for funds
to be returned to the Scheme Investors (although Management expects the assets
will still be sold within the deadlines in the Schemes, i.e. by 26 November 2026).

Management’s most recent estimate of the return to Scheme Investors shows a
return that is not significantly below the return estimated in the Schemes"