£8.5m teak plantation scheme: Guy Conroy, a 57-year-old director from London, has been banned from being a company director for 11 years after his companies, Green IS Group Limited and GIS Forestry Limited, went into liquidation, owing investors over £8.5 million. The companies offered customers the opportunity to invest in teak trees on plantations in Brazil.
Misleading Investors
Conroy allowed the companies to provide misleading information to customers, telling them their investments were secured and there were safeguards to protect their money. However, the companies did not have the correct ownership rights to the teak trees, and investors were not protected.
Investment Scheme
The companies sold bonds for £5,000 each with a fixed term between two and 10 years and interest rates of between 8% and 11%. At the end of each bond’s term, the companies were supposed to redeem the bonds, repaying the initial investment amount to the customer. However, when the companies went into liquidation in March 2022, at least 250 investors were owed millions of pounds.
Still on £8.5m teak plantation scheme
Lack of Security
No debenture over Green IS Group’s assets was ever registered at Companies House, and security over GIS Forestry’s assets was only registered in October 2020, despite the company issuing bonds from December 2014. This lack of security meant that investors were exposed to significant risk, and many lost out on their investments.
Consequences
The Secretary of State for Business and Trade accepted a disqualification undertaking from Conroy, which started on March 27, 2025. The ban prevents him from being involved in the promotion, formation, or management of a company without the permission of the court. Ann Oliver, Chief Investigator at the Insolvency Service, said that Green IS Group and GIS Forestry traded in a manner that was “completely unacceptable and not in the public interest”.
Recovery Efforts
The liquidator has been working to identify and recover company assets, obtaining records and meeting with Conroy and the other directors. The largest claim from a creditor in the liquidation process was £636,000, and the majority of investors were based in the UK. The total amount owed to investors is at least £8.525 million.
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