Saturday 29 May 2010
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.