8 February 2023
R&I Update - February 2023 – 3 of 3 Insights
The Secretary of State for Business, Energy and Industrial Strategy (SoS) presented winding up petitions against Fabcourt Developments Limited, Clarkson Murphy Partners Limited, Hall Contracting Services Limited and Sentor Solutions Commercial Ltd (the Companies).
The SoS may present a petition for a company to be wound up where it appears that it is expedient in the public interest and if the court thinks it just and equitable to do so.
Two of the Companies claimed to be financial institutions and received investment monies in exchange for the promise of high returns on property development projects, which ultimately did not exist. The remaining Companies were also involved in the investment scheme. After one or two interest payments were made to investors, the Companies did not make any further payments and ceased all communications.
The Companies were wound up on the following grounds:
To discuss the issues raised in this article in more detail, please contact a member of our Restructuring & Insolvency team.
Re Sentor Solutions Commercial Ltd and other companies [2022] EWHC 2734 (Ch)
8 February 2023
8 February 2023
8 February 2023
by Luke Viner
by Luke Viner
by Luke Viner
by Luke Viner