German Property Group, also known as GPG, Dolphin Capital, Dolphin Trust, Red Rock
In administration 8 October 2020
FRN: Not FCA authorised
You might be eligible for compensation
A number of companies in the overseas investment scheme German Property Group (GPG) have recently entered bankruptcy proceedings in Germany. These companies were also known as Dolphin Capital, Dolphin Trust and Red Rock. The GPG companies are not authorised by the FCA.
FSCS is aware that some UK customers have invested in GPG. This has been done either directly, or via a self-invested personal pension scheme (SIPP) or small self-administered scheme (SAS).
If you invested your SIPP or SSAS in GPG through a financial adviser and/or a SIPP operator in the UK and you believe you were mis-sold, you may be eligible for compensation.
If an FCA-authorised adviser that’s still trading advised you to take out an investment in GPG, or you’ve invested via SIPP operator who accepted investments in GPG, you need to complain to them first. If you're unhappy with the response to your complaint, or you don't hear back from the firm within the relevant time period the Financial Ombudsman Service may be able to help. It is a free and easy to use service that settles complaints between consumers and businesses that provide financial services.
If you were advised by an FCA-authorised adviser that’s now no longer trading to take out an investment in GPG, or invested via SIPP operator that’s no longer trading, you should submit a claim to FSCS against your financial adviser or SIPP operator.
To make a claim for compensation with FSCS, you must be eligible under our rules. We can pay compensation up to our limits per investment - either £50,000 or £85,000 depending on when the firm failed.
We are pursuing recovies in Germany in respect of the investors who we have compensated. But given the state of the companies’ affairs, the insolvency process is expected to take some time. However, if there is a return, we may be able to pass this on to investors who have received compensation from us which has not fully covered their claims.