The London Vines in liquidation: creditors' meeting tomorrow

The London Vines – Defined by Integrity!

The London Vines Ltd is now in liquidation and a creditors' meeting is to be held tomorrow at 11.30am at the offices of Findlay James, Saxon House, Saxon Way, Cheltenham GL52 6QX. Telephone: 01242 576555

Fax: 01242 576 999. Email: info@finjam.com

Over the past few months I have received a considerable number of messages from concerned clients of The London Vines Ltd, who have invested considerable sums of money in wine that they have been unable to trace. A number have been persuaded by high pressure sales techniques to invest a significant proportion of their life savings in wine, which may not have been bought by the company. I trust that Findlay James, if appointed as liquidators, will do a professional job and establish how much wine was bought. Then, if not all the wine ordered was bought, whether the directors (Robert Phillips and Barry Gamble) trousered some of the money or whether it was pocketed by someone else.

Update 31st October 2013: Liam Andrews offers 'THE TRUTH'

 

From: liam andrews

To: budmac@btinternet.com
Sent: Thursday, 31 October 2013, 20:22
Subject: THE TRUTH

Dear Mr Budd 

Interesting meeting today, here are a few facts and responses to comments on your blog regarding The London Vines

A quote from your blog  "Robert Definitely did not see any of this coming", Please explain the Facts I have found out below.

Phillips sacked all the workers and changed the locks of the office in June and has not been seen or heard from at the London Vines since, in fact he is in Poland (well and rich) see attached photo, the facts are simple, very simple, at least 5 workers were fired with a text that said "you are suspended on full pay until further notice" of course they were not paid, Gamble ended up selling items that he owned and giving some of the money to those 5 so they could pay there rent and bills (all documented)

Gamble offered to buy Phillips out months ago but was declined and told by Phillips (quote) "what else I will do" Phillips knew from 2012 that Mr Gamble was leaving, (all witnessed)

Once he became director he failed to turn up to work some days, while staff would still turn up and stand outside waiting for the director to decide whether or not he was getting out of bed that day.

After Phillips had scarpered Gamble still tried to get accounts opened for clients, 6 letters had been sent at least urging clients to open accounts that had not done so, after being called everything under the sun by Goedhuis, Gamble still tried to get some wines allocated to at least 2 clients, with the locks changed it was almost impossible to remember exactly who and what was bought, i know £4.2 million worth of wine was bought under Gambles tenure and at least 200k worth was paid and yet to land (all documented)

There is outstanding orders, there was a plan in place to pull TLV round within a 12 month period, all written step by step and given to Phillips by Gamble, it was used as a coaster by Phillips for months before he disappeared and a letter was sent out to clients.

As Phillips changed the locks and/or refused any entry to TLV before he disappeared it was impossible to sort out.

Gamble admits mistakes were made but it was easily within reach to pull it back from the brink, there are wines that can be allocated and if access can be gained there is an excel spreadsheet of every client and every transaction, whether the wines are bought or not, its all on that database at 13 Holywell.

I doubt all transactions can be saved which is poor practice by them both but i think you need to research a bit more Mr Budd rather than hoping whatever you throw at the wall sticks.

 

Dear Liam

Thank you for your email.

Robert Philipps was a director of The London Vines from 9th April. Barry Gamble from 26.4.2010 to 9.4.2013.

'Gamble offered to buy Phillips out months ago but was declined and told by Phillips (quote) "what else I will do" Phillips knew from 2012 that Mr Gamble was leaving, (all witnessed)'

If Gamble was as concerned by events as you suggest why did he resign as the sole director. I have details of wine ordered by a client in 2011 and 2012, which are not in their possession. During this time Gamble was the sole director.
' i know £4.2 million worth of wine was bought under Gambles tenure and at least 200k worth was paid and yet to land (all documented)'. What was the total amount ordered and why are there a number of investors who have not received their wine?

Regards

Jim 

 

Curiously my reply email to Liam generated an error message: 'Sorry, we were unable to deliver your message to the following address.' 

 

      

                                             

                                                   

                                                   

Boltons Investments Ltd: goes into liquidation

Boltons Investments home page: 12th September 2013

Please see update at end of this post.

The possibility is growing that Boltons Investments Ltd is the latest wine investment company to disappear. Its website is no longer accessible – only a note saying – 'Page not found'. The company phone (020-7491 9959) is no longer being answered – just a message saying 'all the team are busy' and inviting the caller to leave a message. I have left my details and asked them to let me know if they are still trading.

There are a couple of very recent threads on forums – Wine Pages and Cellar Tracker – started by worried investors unable to contact Boltons Investments Ltd.

Boltons Investments Ltd was set up in September 2006 and recently has traded from 11 Maddox Street, London W1S 2QF. It was originally called Bordeaux Connoisseurs Ltd. Its founder and sole director is 39-year-old Vincenzo Tagliavia. Back in April 2010 there was a curious company swap. A company called Boltons Investments Ltd, set up on 14th November 2009, changed name to Bordeaux Connoisseurs Ltd, while at the same time Bordeaux Connoisseurs Ltd became Boltons Investments Ltd. The renamed Bordeaux Connoisseurs Ltd was dissolved on 28th June 2011. Rather than a double swap it would presumably been easier just to change the company name.  

On Google it is claimed that: Boltons Investments™ is the leading, low cost fine wine broker specialising in En Primeur, cellar acquisitions, valuations and sales. We are also focussing ...'

From information on Duedil, Boltons Investment's financial health looks uncertain. The company has £59.2K in the bank; its current liabilities are 313.1K with assets of £202K, and a book value of - £273.1K.

I trust that Vincenzo Tagliavia's Boltons Investments Ltd have bought all the wine that its clients ordered and that his clients will find it easy to take possession of their wine.  

I invite Vincenzo Tagliavia to contact me to clarify the situation, especially as he has contacted me on several occasions in the past to assure me that his company is properly run.   

    
13th September: Update 
Vincenzo Tagliavia's Boltons Investments Ltd has gone into liquidation. A letter to creditors was sent out by Wilkins Kennedy, 92 London Street, Reading RG1 4SJ (Tel: 0118-951 2131) on 9th September  the day they were appointed. The creditors' meeting will be held on Thursday 26th September at Wilkins Kennedy's Central London offices: Bridge House, London SE1 9QR at 11.15. The financial position should then be clearer. 

Boltons Investments Ltd has three accounts at London City Bond. There are two trading accounts – one at Tilbury and one at Vinotheque, Burton-on-Trent – and another with clients sub accounts. At present it is not known whether it will be possible to identify clients' wine in the trade accounts nor whether all the wine ordered was bought.     

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.