Housing Hanau Central Station (Hanau Hauptbahnof) – investment will not be paid
In 2014, Dolphin Capital bought 13 houses in Hanau, Germany, with about 170 apartments and secured the city contract to rehabilitate them. To date, none of this took place. Since 2017, Dolphin Capital and the city are in court. The buildings are run-down and steadily lose value. What are the possible claims of those affected?
German Property Group GmbH does not pay back investments
The principle sounds simple and secure: Dolphin Capital, now German Property Group GmbH acquires real estate, refurbishes it and as soon as the flats are sold, the profits are paid out for the repayment of the investment plus the return. And they sound tempting. Anyone familiar with the German housing market will know that there is no great risk here.
Many of the investors are located abroad, some have given the project enough confidence to invest even their entire savings for old age. An Englishwoman, for example, who put her entire pension plan into the current German Property Group GmbH. Instead of her promised money she gets for months only letters with announcements when it would be paid.
Hanau is unfortunately not an isolated case after press reports. German Property Group GmbH also offered in Augsburg and Bamberg the opportunity to invest in buildings in need of renovation. Here, too, according to various media waits in vain for redevelopment and disbursements. From Asia, where the company still acted as Dolphin Capital at that time, the same is to report. Here, investors wait years for a payout.
What claims could investors have?
The German Property Group GmbH, which has not published any balance sheets since 2016 according to press reports, emphasizes that there are no financial reasons for the late payments. The lack of renovations are explained with difficult bureaucracy. The failed resale of the houses in Hanau can be doubt on the announced renovation also.
But what happens now? What options are there to get the money back?
We are happy to examine your case and advise you on possible claims.