Advice on preference shares

Dalac

I purchased €40,000 in preference shares from a friend who was MD in a property development company in 2008 for a 3.5 years investment.
I know it was bad timing just before the property bubble but the shares were in a development in Cyprus.
I can't get any information on the shares , I found the company is still active in Cyprus but they have not made any returns since 2006.
I have no knowledge of this area and invested because I knew and trusted the MD.
Is there any way of getting the information on the shares , when they were due to be paid I got a letter to say it had to be extended due to the downturn in property as they were trying to sell the whole project off , but I have not had any contact since then , any calls or emails have been ignored.
I'm sure I'm not going to get good news but surely even if be company is gone bust there should be some information I am entitled to.

Marcusm

You'll need to start by establishing the country under whose laws the company was established and or operated. If it's an Irish company, failure to file annual returns etc can lead to a threat of strike off which can leave directors personally liable if they carry on business afterwards. This generally can be used to "encourage" the filing of returns by an active company. Otherwise, your remedies will depend on the constitutional documents of the company (memo & arts or similar) as those will lay out the entitlements of shareholders to information (complementary to information available under the law).