Wind-up order is granted in Dolphin Trust case More than 1,800 Irish investors put a combined €107 million into the German property group described by its liquidator as a pyramid scheme 10th March, 2021 The corporate headquarters of German Property Group, formerly called Dolphin Trust, in Langenhagen, Germany: investors in Dolphin Trust were promised a 10 per cent or more return for commitments of three to five years A wind-up order has been granted in a case related to Dolphin Trust, the bust property investment group in which hundreds of Irish investors have been burned. Kathleen Dineen, 78, from Ballincollig in Co Cork, had petitioned the High Court to wind up an entity called MUT 103, a special purpose vehicle linked to her Dolphin investment.