Alternative Investments May Be Tempting But Professional Advice is Always Needed
2nd September, 2022Alternative investments may offer attractive rates of return, but they should never be entered into without professional advice. A High Court case concerning numerous small investors who staked their life savings on the success of an ill-fated hotel development served as a cautionary tale. With a view to obtaining long leases of hotel rooms when the project was complete, the investors paid deposits totalling about £4 million. The building work was, however, less than 70 per cent complete when the company behind the development entered administration. The building was mortgaged to...