New Earth Solutions Group Limited was supposedly an established UK provider of waste treatment facilities while developing complimentary operations in the renewable energy sector. They had separate companies focusing on waste treatment services and projects to recover low-carbon renewable energy from waste-derived fuels. The premise of this group of Isle of Man funds was pensioners and investors could avail of UK government tax and business initiatives to help grow the Green economy and help save the environment in the meantime.
The Premier Group Investment Opportunities Fund Protected Cell Company plc was an Isle of Man domiciled fund created by the directors of The Premier Group. It was an open-ended investment company designed for Qualifying Investors only.
The New Earth Solutions Recycling Facilities Investment Fund was priced in sterling, Euro and US Dollar.
The Premier Group (Isle of Man) Limited (“Premier”) originally established in 2001 and was responsible for designing, distributing and managing a range of alternative investment funds to investment intermediaries and financial institutions throughout the UK and international markets.
Premier allegedly raised $700m of investor’s money through their various fund vehicles
In early 2009 Premier was accepted as both a regulated Manager and regulated Promoter under the supervision of Isle of Mans regulatory body, the Financial Supervision Commission (the “FSC”).
Premier group had been the distributors of another failed fund called the Premier Low Risk Fund plc which was a portfolio of geared Traded Endowment policies to British expats mainly through unregulated introducers.
A significant portion of this $700m was invested through Life Assurance policies regulated in the Isle of Man, Guernsey, Ireland, and Luxembourg. These companies had a fiduciary responsibility to allow investors into retail funds only and consequently we feel this is something to question them further on.
If you are an investor in any of the these Premier Group funds please get in touch with us to discuss how you can seek redress from the major institutions or Life insurance companies that were complicit and did not protect you, as was their fiduciary responsibility.