Hydrology PLC – previously known under the names of Water Bonds PLC, Nexus Water Bonds before finally settling on Hydrology in March 2016, originally proposed a CVA – a Creditors Voluntary Arrangement due to “financial difficulties” experienced by the company.
Now it’s gone into Administration
But should have investors have been pointed towards a Hydrology PLC investment in the first place?
Many appear to have been mis-sold via SIPP pensions, and may be able to make a claim for losses.
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Several financial advisers and the FSCS have been paying out compensation for the mis-selling of Hydrology water bonds and similar investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Hydrology PLC was created to “enter commercial water markets by financing and developing facilities” that treat water, purifying it for use in industrial purposes.
So far so good, and as of late 2016, Hydrology PLC was operating two projects in Brazil and the US, while listed on the Cyprus Stock Exchange.
But the reasons for financial difficulty were stated in their proposal to enter a Creditor’s Voluntary Agreement:
This has meant that Hydrology PLC has DEFAULTED on interest payments to debenture holders between March and Sept 2016, and again from October 2016 though to 1 March 2017, as the company is not able to pay.
For most SIPP investors, the question might not be what happened to Hydrology? so much as can I make a claim?
Hydrology defaulted on interest payments between March 2016 and Sept 2016, and then again in October 2016 through to March 2017.
Update released: investment is now considered to be “toxic”