Bordeaux Fine Wines Ltd in the UK High Court, London

IN THE HIGH COURT OF JUSTICE
CHANCERY DIVISION
COURT 10

Before MRS JUSTICE ROSE
Thursday, 19 December 2013
At half past 10

COMPANIES COURT

United Drug (UK) Holdings Ltd v Bilcare Singapore PTE Ltd & anr
Re A Company 8850/2013


TNO Renewables Ltd


Secretary of State for Business, Innovation & Skills v Bordeaux Fine Wines Ltd


Turnkey Estates Ltd v Moore

See here.

A petition to close the company in the public interest?

Sole director is 30-year-old Kenneth Gundlach

Is the Investors Chronicle corked?

Château Gazin, Pomerol

Today the Investors Chronicle, part of the Financial Times group, has published an article on wine investment entitled: 'Is wine investing corked?' Written by Mark Robinson, 'alternative asset investment expert for Investor’s Chronicle', it makes some good points including a strong warning to avoid cold callers. However, there is one gross inaccuracy when Robinson blames wine investment funds for the losses that too many investors have suffered: 

'Dwindling alternatives - the DIY option

Given that UK investors have lost upwards of £100m since 2008 due to the collapse of dozens of managed wine investment vehicles, we remain highly sceptical about the claims of many managers of wine funds. And we're not alone. In June, the UK Financial Conduct Authority (FCA) banned the promotion of wine funds and other alternative investments to the bulk of retail investors in the UK, while from 31 December fund managers running unit trusts will not be allowed to invest in wine funds and other alternative investments. And while we're certainly not suggesting that every wine investment scheme out there is badly administered, or is misleading with regard to expected rates of return, we believe that the bulk of retail investors would be best served by adopting a DIY approach to wine investment.'

I was contacted yesterday by Speed Communications, a PR company who work for The Investors Chronicle, and given sight of the article before it was published. Naturally I pointed out the inaccuracy about wine funds:

'Managed wine funds
The figure of £100 million lost does not relate to managed wine funds, which as you know come up some financial regulation. The £100 million is a quote from Nadim Ailyan of Abbots Fielding and refers cold calling companies offering cases of wine as an investment, examples would include Bordeaux UK, Nouveau World Wines etc. http://www.bbc.co.uk/news/business-17703269. The list continues to grow.'   

The estimated £100 million loss quoted in the article has come through scam, cold calling companies offering the DIY alternative. I hope the Investors Chronicle will correct this error. 

Capital Bordeaux Investments Ltd disappeared – white knights circling?

Capital Bordeaux Investments Ltd – cheap and nasty website 

 White knights appear to be circling 

Capital Bordeaux Investments Ltd seem to have disappeared. A client of theirs reports that: 'I've phoned (cut off), emailed (no response) written to 68 Lombard Street on 15th Nov and the letter was returned in the post today by royal mail.' This client bought 2011 Lafite-Rothschild en primeur. Although some 2011 Bordeauxs have started to arrive in the UK, it is likely that the Lafite will not be shipped until spring 2014. Whether, of course, Capital Bordeaux and its sole director 23-year-old Scott Andrews even bought the remains to be seen. The company claimed to have an account at London City Bond – unfortunately LCB has no record of account in this name.   

From 'I wouldn't buy from these companies' page: 

'Capital Bordeaux Investments Ltd: This company and Capital Bordeaux Vintners share the same address – serviced offices at 68 Lombard Street, London EC3V 9LJ. (68 Lombard Street is a popular address for wine investment companies – also used by European Fine Wines Ltd.) Formed 24.4.2012.
Claims wine investment is tax free. Sole director: 24-year-old Scott Andrews
Cheap and nasty website. 
Update: 5th August 2013: annual return is overdue since 22nd May 2013.
14.11.2013: annual return still overdue.

28.11.2013: Company seems to have disappeared. Among the wines it sold was 2011 Lafite-Rothschild, whether Scott Andrew and his company bought any is another matter.'

Watch out for White Knights!

Following the apparent disappearance of Capital Bordeaux Investments Ltd, white knights may be circling perhaps intent on causing further damage to people's savings as the client reports: 'Interestingly I've had no less than 5 cold calls today from investment companies trading in gold, wine etc.   Have said no to each of them and why.'