The London Vines Ltd: watch out for White Knights!

 Watch out for White Knights contacting 

you about a failed company!

investdrinks has received a number of reports of companies contacting clients of the now collapsed The London Vines Ltd with offers of help and to buy their wines. 

The London Vines Ltd went into liquidation on 31st October 2013 with an announced deficit of £590,000, while the company’s assets are negligible. It is very likely that the deficit will rise considerably once all the claims are in. The insolvency practitioner appointed is Joanna Wallace of Findlay James based in Cheltenham.

“I don’t know what the true deficit is yet,” Joanna Wallace told investdrinks. “Laura Goedhuis of Private Reserves Ltd. “is compiling a list of clients who have not yet received their wine.”

Wallace added: “Some of the company’s clients have their wine but not all the wine is there. It would appear that there were payments made by the firm’s customers for goods that were not supplied. At the moment I can’t quantify what wine is missing but it may be substantial.”

Although it is romantic to be rescued by a white knight, beware the chivalrous stranger may turn out to have feet of clay. You might also wonder how they got hold of your details, so as to be able to contact you – who passed on your details?

The warning issued by Thames Valley Police in relation to World Wide Investments Ltd applies here:

'In the meantime we have become aware of further wine companies who have been contacting investors and you should be very cautious if you receive calls from any companies offering you investment opportunities.

The following companies are known to have contacted clients of The London Vines Ltd:

Johnston & Carter Ltd doubtless diamond geezers but no thanks! Share capital £1    

One Vine Day Ltd  Share capital £1    

Woolf Sung Ltd Share capital £1

(further details of companies to be added.)

I would follow Police advice and be very cautious. How did these companies get the details of clients of The London Vines Ltd?

Ethical Elegance Ltd: this company also went into liquidation at the end of October 2013. Clients of this company should also be wary of calls from other investment companies offering assistance and advice.

* NB Private Reserves Ltd has no connection with The London Vines Ltd. The company arranges wine storage. 

The London Vines Ltd – action group + some diamond geezers

Some investors in The London Vines Ltd, which appears to have ceased trading and has disappeared, are looking to form an action group. Any clients of The London Vines Ltd, who would be interested in joining such a group, should email me on budmac@btinternet.com and I will put you in touch with the organisers.

I'm pleased to report that the action group is growing steadily.

***

I understand that at least one client of The London Vines Ltd has been cold called by a company called Johnston & Carter Ltd (website registered: 24th January 2013), who offered to buy their wines. Perhaps they would be offered the opportunity to buy coloured diamonds as Johnston & Carter 'is based in the City of London, our speciality is dealing with diamond trades offering our clients a professional and unique service'. Furthermore 'Combining experience, foresight and strategic intelligence of movement in the market here at Johnston & Carter we pride ourselves with speciality in dealing with diamond trades,' – pretty good for a company that was set up on 26th November 2012 under the name Far East Elements Ltd. The company became Johnston & Carter Ltd on 12th February 2013.

During its less than ten month life Johnston & Carter Ltd has had three directors. Firstly 25-year-old Pablo Vega (26th November 2012 - 4th March 2013), then 20-year-old Frank Sullivan (5th March 2013 - 15th July 2013) followed by 43-year-old Bradley Wright (15th July to the present). All I'm sure diamond geezers.

Johnston & Carter's registered office is 45 King William Street, London EC4R 9AN – a serviced office complex. On Duedil this is also their trading office. On their diamond website, the contact address is Westone Business Service Ltd, Unit 36, 88-90 Hatton Garden, London EC1N 8PN – a virtual office. 

Although I'm sure that coloured diamonds look stunning on a white knight, I would be very wary of cold calls from unknown companies offering to buy wines that have been bought from The London Vines Ltd.