To kick off here is a recent example from the UK wine trade where a company has died 'in a show of flames and combustion' but serendipitously its debts 'simply decompose' before a new one is born again.
Goodbye – En Primeur Ltd! (05949641) ...... Hello – World of Wine Ltd! (09900486)
En Primeur Ltd was founded in September 2006 with Marco Paulo Correia (DOB: 29.9.1968) and Ana Sebastiao as the company secretary. En Primeur Ltd was based in Crawley with Ground Floor 1-7 Station Road Crawley West Sussex as its registered address and trading address: Suite 4, Kelvin House, Kelvin Way, Crawley RH10 9WE. As its company name implies, the sale of en primeur was a major focus. At the height of the demand for Bordeaux en primeur (2009/2010) Correia advertised his company's en primeur prices in January promising to hold them when the actual price posted by the châteaux several months later – surely a gamble fraught with difficulties.....
On 24th July 2014 En Primeur Ltd went into liquidation with debts that were originally estimated at 'low six figures' but which had climbed to unsecured claims of over £2.4 million by September 2015 when the liquidator, Nedim Aliyan of Abbott Fielding, filed his first annual report. News reports from July 2014 here and here.
The last annual return filed in 2013 showed En Primeur Ltd had share capital of £100 – 85 shares held by Marco Correia and 15 by Roberto Correia. Full details of En Primeur Ltd and its filing can be found on Companies House Beta service.
Hello – World of Wine Ltd! (09900486)
The World of Wine Ltd was incorporated on 3rd December 2015. Ana Ligia Sebastiao (DOB– March 1973), who was company secretary of En Primeur Ltd, is the sole director and sole shareholder. The company has a nominal share capital of £100 – with £100 unpaid. Its registered office is Ground Floor, 1/7 Station Road, Crawley, West Sussex, United Kingdom, RH10 1HT and trading address: Suite 4, Kelvin House, Kelvin Way, Crawley RH10 9WE.
Although Marco Correia is not an officer of The World of Wine he is the registrant of the company website – registered on 11th November 2015. Buying en primeur features prominently on the World of Wines Ltd's website.
Compare and contrast:
Keen readers may notice a certain resemblance between these two explanations of buying en primeur......
From the terms and conditions of World of Wine Ltd:
It is not clear what happens if the reason why wines are not supplied are due to circumstances within the company's control eg failure to pay en primeur suppliers....
The terms and conditions for The World of Wine Ltd limit to right of return to three days from delivery. This is contrary to the 2013 Consumer Contracts legislation that gives 14 days.