APW Asset Management Ltd, the wine investment company, went into Liquidation on 25 March 2015.
Quantuma were jointly appointed to deal with the winding-up of the Company. Quantuma’s primary responsibilities are dealing with the assets of the Company and wines held in the names of investors. This will take some time to investigate due to the complications of the case.
Quantuma have been made aware of a number of communications from other wine investment companies to the former clients of APW Asset Management Ltd.
Nick Simmonds, Partner at Quantuma said “There are a number of complications with the Liquidation of APW Asset Management Ltd which will take some time to investigate and resolve. In the meantime we are concerned regarding approaches to former APW clients from other companies. We would like to reiterate that wines will not be released without Quantuma’s sanction and no third parties have been given permissionto contact clients in relation to APW. As a result, any contact received from third parties should be treated with extreme caution.”
'Please note that these calls/correspondence are NOT from Quantuma LLP'
A report of identity theft has been made to Action Fraud and we would ask that any investorwho has been contacted in this manner make a report to Action Fraud on 0300 123 2040 using reference number : NFRC 150 300 964 442
Date: 15 July 2015 at 17:14
Subject: APW UPDATE!
We hope you are well.
We have an update regarding the APW/Quantuma situation.
A large institutional client of UK Agora's managed to remove his APW wines before they went into administration off of the back of our advice. However, he still has around 40 cases inside the APW London City Bond account which were not moved.
After putting significant pressure on Quantuma they have informed him that he can expect to receive his wines as they are not classed as APW's asset.
Like you, he has provided full proof of purchase which has helped Quantuma identify what wines belong to him. Your wines are stored within a sub account inside APW's main account which makes your wines easy to identify. (Should you be unsure of your account reference please check your APW paperwork. It normally consists of your first and last initial followed by a few numbers).
Fortunately for clients APW did actually purchase the majority of the wines they recommended. The wines we are aware they did not purchase are; Chateaux Lafite Rothschild, Yara Yerring and the Torbreck Laird 2008.
This comes as fanatic (sic!) news as it means that your verticals and other collectible positions remain intact! This news has added some relief to those clients who were unsure of what the outcome would be.
I have also been given an idea of the time scale this process will take. But at this point I feel that it is probably not worth mentioning until I have an exact date.
We will continue to keep you up-to-date on this matter.
Address: 55 Old Broad Street, London, EC2M 1RX
Tel: 0207 997 6759