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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.

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