Prestige Fine Wine Limited placed into provisional liquidation

'past five years' ... 'return of 166%'

Insolvency Service Press Release: 20th October 2015

'Prestige Fine Wine Limited has been placed into provisional liquidation following an investigation by Company Investigations of the Insolvency Service. 

The company holds itself out as a fine wine investment business, specialising in Bordeaux fine wines.

The role of the provisional liquidator is to protect assets in the possession or under the control of the company pending the determination of the petition. The provisional liquidator also has the power to investigate the affairs of the company, insofar as it is necessary to protect assets including any third party or trust monies or assets in the possession of or under the control of the company.

The case is now subject to High Court action and no further information will be made available until a petition to wind up the company is heard in the High Court on 16 December 2015.' 

Company details from UK Companies House website:

Incorporated on 5 March 2010

Registered office: Airport House, Purley Way, Croydon, CR0 0XZ

Accounts overdue
Next accounts made up to 31 March 2014
due by 31 December 2014
Last accounts made up to 31 March 2013

Annual return overdue
Next annual return made up to 5 March 2015
due by 2 April 2015
Last annual return made up to 5 March 2014

Statement of capital on 9.4.2014: £1

 

Good news: two further companies being closed in public interest

Capital Bordeaux Investment Corporate Limited and Capital Bordeaux Investments Limited

It is good to see that the Insolvency Service is now busy pursuing other dubious wine investment companies following forcing Ken Gundlach's Bordeaux Fine Wines Ltd into liquidation. On 13th February Capital Bordeaux Investment Corporate Limited and Capital Bordeaux Investments Limited were put into provisional liquidation by the High Court in London on public interest grounds. The full hearing of the petition is on 14th May. It is, however, rare for the directors of companies put into provisional liquidation to oppose public interest petitions.

Message from Grant Thornton:      
'Capital Bordeaux Investment Corporate Limited & Capital Bordeaux Investments Limited in provisional liquidation 

'Capital Bordeaux Investment Corporate Limited (CBIC) & Capital Bordeaux Investments Limited (CBI) companies that sold wine to investors, were placed into provisional liquidation by the High Court in the public interest on 13th February 2014, following an investigation by the Insolvency Service.
 

The Official Receiver is acting as provisional liquidator in both matters with a hearing set for 14 May 2014 at 10.30am in London to place the companies into formal compulsory liquidation. It is from this point that an Insolvency Practitioner may be appointed to act as Liquidator to investigate the financial affairs of the company and seek to maximise the potential return to creditors.

Should you want advice on your options please contact Samantha Street, a manager at Grant Thornton, at samantha.j.street@uk.gt.com or on 0207 728 2651.'

Investdrinks is prepared to post similar notices from other insolvency practitioners.