White Knights - a renewed warning

Investors in the failed wine investment company, The London Vines Ltd, continue to be approached by White Knights offering to assist. A recent example is Elliott House Collections Ltd (Company number: 08352626) offering to exchange investors wine for art. Doubtless these exchange offers are kindly meant but I would certainly decline them. 

Elliott House Collections Ltd was set up on the 9th january 2013. Its registered and trading address is 68 King William Street, London EC4N 7DZ – a well known accommodation address. The company's sole director is is 26 year old Harry James Downer. 

Other companies offering assistance include One Vine Day, Vine Capital and Woolf Sung. If I was an investor with The London Vines Ltd I would decline their offers and propositions as well.   

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Barry Gamble

The many friends of Mr Gamble will no doubt be delighted to learn that he has apparently added recently a large extension to his house. It is also rumoured that he may be facing personal bankruptcy. Apparently the house in the joint names of Gamble and his wife.    

Gamble was a director of The London Vines Ltd from 26 January 2010 to 9th April 2013. The company went into liquidation on 12th November 2013. A number of investors have been unable to locate their wine.

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.