Saturday, 14 June 2014
European Fine Wines Ltd – liquidation + creditors' meeting
European Fine Wine Ltd premises in Bromley
Confirmation that European Fine Wines Ltd is going into liquidation. The creditors' meeting will be held on 25th June 2014 at the Marriott Hotel in Bexleyheath. Apparently the deficit is believed to be less than £1 million. Most investors appear to have received their wine, although in many instances they probably paid too much for their wines. Some investors are having a nasty shock when they discover the true value of the wines they hold. There does, however, appear to be some investors who for the moment do not have their wine.
The principal reason for the failure of European Fine Wines Ltd is being blamed on their failed attempt to open premises in Hong Kong following the success of legitimate and long established merchants like Berry Brothers & Rudd and Corney & Barrow in setting up offices there. investdrinks has been told that EFW Ltd lost some £800,000 in this abortive attempt to establish a presence in Asia-Pacific.
Having two directors – Scott Assemakis and David Evans – banned for 11 years from being UK company directors for their part in land banking scams cannot have helped the reputation and fortunes of European Fine Wines Ltd.
The move to liquidation is being managed by Nedim Ailyan of Abbott Fielding in Sidcup. Tel: 0208 302 4344, email: email@example.com