Connect with us

Hi, what are you looking for?

Trending News

Trio of property investment firms enter provisional liquidation


Rationale Asset Management, Value Asset Management and Merydion Corporation have been placed into provisional liquidation, following a high court hearing in August after it received an application from the UK Insolvency Service.

This is a ‘middle stage’ process that follows a winding up petition, but precedes a court decision.

The three companies were involved in property investments.

A provisional liquidator was named and the Official Receiver is now responsible for protecting the assets in possession or under the control of the three firms until a decision is made on the winding up petitions presented by the secretary of state of business, energy and industrial strategy.

The Official Reviewer invited investors, creditors and shareholders of the companies to get in touch and assist with the process.

Awaiting decisions

The provisional liquidation orders follow a high court hearing on 27 August 2020, the Insolvency Service said.

“The provisional liquidator has the power to investigate the affairs of the companies as necessary to protect assets including any third party, or trust monies, or assets in the possession of, or under the control of the companies.

“The case is now subject to high court action and no further information will be made available until petitions to wind up the companies are heard in the high court on 12 January 2021,” it added.








Source link

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Trending News

via blogmaverick I wanted to get an understanding of what opening meant to businesses around Dallas. Were they opening? What precautions were they taking? Were...

Trending News

by Dr. Eowyn Washington State governor Jay Inslee is not only a rabid leftist (see “Washington Gov. Jay Inslee Signs Seven Anti Gun Bills...

Trending News

Canada Life has extended its segregated portfolio service (SPS) to a wider range of bonds. The SPS provides clients with access to an offering...

Trending News

by Tom Wigand Cross-posted from trevorloudon.com An ordained minister from Chicago. A former Black Panther. Supported by the Democrat Socialists of...