Some 40 financial broker firms whose clients were among over 1,800 Irish investors hit by the collapse of Hannover-based German Property Group (GPG) have set up an action group to deal with the liquidator of a Dublin vehicle linked to their investment as they seek to recover some of their money.
âUntil recently, individual firms have been working with their clients alone, but it was thought that a collective approach would be a more effective and efficient method of pooling information, and resources, which would better assist investors in their quest for redress,â the so-called GPG Redress Group said on Thursday.
âThe GPG Redress Group has been set up to support investors by engaging on their behalf, where authorised and appropriate, with all connected parties to the investment, including the Liquidator, the Pensions Authority, and the Department of Finance, among others,â it added.