Unrest among investors in the Thomas Lloyd Group
In the past few weeks, numerous investors in the Thomas Lloyd Group contacted lawyer Dr. Sven Tintemann from the law firm AdvoAdvice Rechtsanwälte mbB. This had different backgrounds:
1.) Delays in distribution
As early as the middle of 2020, there were the first calls from unsettled investors because the regular distributions of their funds had not been postponed for the months of June, July and August.
AdvoAdvice had already reported on this in the AdvoAdvice blog in summer 2020 and again referred to the warnings of the magazine Finanztest in its autumn 2019 edition.
As far as AdvoAdvice was aware, this affected several systems operated by third party Cleantech Infrastrukturgesellschaft mbH & CO. KG including the infrastructure funds CTI 8 and CTI 5D. According to its own information, it does not invest in projects in the field of renewable energies itself, but rather holds a silent participation in Thomas Lloyd Cleantech Instracture Holding GmbH, which in turn invests in projects. According to the prospectus, the third party Cleantech Infrastrukturgesellschaft mbH & Co. KG does not have any say, control or information rights with the project company. This means that there is likely to be a significant blind pool risk for investors.
According to information from investors who contacted lawyer Dr. Sven Tintemann reported by phone, there should have been delays in payments in the fourth quarter of 2020.
From the point of view of lawyer Dr. Tintemann not delivered.
2.) Fund splitting – deadline from January 15th to January 24th
For a few weeks now there has been a high volume of further calls to AdvoAdvice. Investors report to whom the investment companies Cleantech Infrastrukturgesellschaft mbH & Co. KG, Zwei Cleantech Infrastrukturgesellschaft mbH & Co. KG, Third Cleantech Infrastrukturgesellschaft mbH & Co. KG and Fifth Cleantech Infrastrukturgesellschaft mbH & Co. KG have sent letters which result that a so-called fund splitting is planned.
This is justified, among other things, by the fact that the investment variants offered until the end of 2019 are no longer up-to-date. The so-called “hybrid position” leads to a conflict of interest between ongoing distributions on the one hand and the expansion of the portfolio on the other. Investors should now optimize their personal investment goals through the offered fund splitting.
Investors are now given a time window to decide which portfolio or, if applicable, what percentage of which portfolio they would like to be assigned to in the future. Whoever does not decide should automatically be assigned to the new, non-distributing and allegedly more profitable strategy with the beautiful name “growth”.
The decision is to apply retrospectively to October 1, 2020. In addition, a shareholders ‘meeting that is probably long overdue from the investors’ point of view is announced.
Legal advice from AdvoAdvice
From AdvoAdvice’s point of view, the “yield” and “growth” variants offered raise a number of questions.
The investors should agree to a change in their contractual basis without legal advice, discussion and voting at a shareholders’ meeting and without any clearly identifiable reason. Therefore, caution is more than necessary here.
AdvoAdvice therefore advises not to embark on any of the two proposed investment strategies without first obtaining competent legal advice.
The Investmentcheck portal advises the investment company to object to the measure that has now been announced. This can also be the point of view of lawyer Dr. Sven Tintemann make sense, but is by no means absolutely necessary.
The specialist lawyer for banking and capital market law Dr. Tintemann on this: “If an investor objects to the company’s plans, it certainly cannot do any harm. From my point of view, however, it is also sufficient not to make a declaration, as this cannot be interpreted as consent to participation in the growth option if the investor does not comment at all. However, if the investor agrees to be classified in one of the variants, then from our point of view the situation looks much more unfavorable, which is why we advise against grouping into a certain investment variant in any case. ”
Become part of a strong investing community with success
The law firm AdvoAdvice already advises and represents numerous investors in the Thomas Lloyd Group and has set up an investor community on this occasion. In this context, AdvoAdvice has already represented and advised more than 200 investors in the Thomas Lloyd Group and has so far filed around 100 lawsuits.
It also makes sense for investors who are now affected to have their legal options for reversing the investment due to incorrect advice, for revocation due to a possibly incorrect explanation of existing rights of revocation or for termination or special termination of the investment by a qualified specialist lawyer for banking and capital market law .
Feel free to arrange a telephone appointment for a free initial assessment by lawyer Dr. Sven Tintemann at [email protected] or call directly on 030 921 000 40.
Photo (s): Pixabay / Gerd Altmann
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