Following the legal lawsuit by Oilpods, Powder River and Brian Fox has now proceeded to file their defence. Details can be found in this document.
A lengthy lawsuit will only mean that it will take a longer time for investors with Oilpods to find out what is going to their investments.
Incidently, this case was also reported in today’s newspaper.
This incident highlights the risks of investing in unregulated alternative investments. You have to be mindful that you might not have a clear exit strategy with your investments should things go wrong.
If you ever plan to invest in such products, make sure it is extra money you can set aside for a long time. Above all, never commit too much of your investment capital into such schemes.