Wine Traders International Ltd (an update)

investdrinks understands that the winding up petition followed an investigation by the Companies Investigation branch.  The Insolvency Service will appoint a liquidator. However, it is not known when this will be.

I understand that Wine Traders International along with the related companies – Assets Vins Rouge Ltd and Bradshaw & Karr are under police investigation. 

Several clients of Wine Traders International have contacted RSM Tenon, who acted as liquidators in a number of the cases of wine investment companies closed in the public interest – Goldman Williams and City Vintners being the most notable. RSM Tenon is in the running to be appointed as liquidator in the case. Apparently some investors have ownership certificates that include rotational numbers; others do not.

It seems quite possible that Wine Traders International only bought part of the wine that investors ordered from them.

Wine Traders International Ltd

This company was wound up in the public interest in the High Court in London on 5th May 2010. This explains why I have received messages from this firm's customers who have been unable to contact the company.

I expect to post further details on Friday.

Don't get caught by cold calls – hang up!

Advice from the Police and the Financial Services Authority

'If you receive an unsolicited phone call about an investment that seems too good to be true put the phone down on them. It is almost certainly a scam.'

Actually I would go further than that hang up on any cold calls about investments. Almost everyone who contacts me with concerns about wine investment companies has been cold called.

Four news clips from the BBC website about boiler rooms and share scams – here, here, here and here.