Bordeaux Fine Wines put into provisional liquidation
3rd January, 2014 by Lucy Shaw
Wine investment company Bordeaux Fine Wines has been put into provisional liquidation following an investigation by the Insolvency Service.
As reported by investment news website Fundweb, the provisional liquidation order was made by the High Court on 19 December 2013 “in the public interest” following a petition on behalf of Business Secretary Vince Cable.
The Croydon-based firm sold wines from Bordeaux and other fine wine producing regions by cold-calling potential investors.
“The Official Receiver has been appointed provisional liquidator of Bordeaux Fine Wines,” read a statement from the Insolvency Service.
“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 the assets including any third party or trust money or assets in the possession or under the control of the company,” it added.
The case is now subject to High Court action and no further information will be made available until the hearing of the petition on 26 February.