Insolvency Service
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Abandoned Luton and Milton Keynes letting and estate agency wound up
My Pad Asset Management Limited
Yourpad Residential Limited
Town and Country Partnership Financial Services Limited
Yourpad Milton Keynes Limited
Four companies providing estate agency, sales, lettings and mortgage advice have been wound up in the High Court following an investigation by the Companies Investigation Branch (CIB) of the Insolvency Service.
The companies, based in Luton and Milton Keynes, carried on business as a residential property letting service providing social housing to Luton and Milton Keynes local authorities and also to private landlords and individuals. They also acted as a conventional estate agency putting vendors of houses in touch with purchasers and were a provider of mortgage advice.
The directors of My Pad Asset Management Limited, Yourpad Residential Limited, Town and Country Partnership Financial Services Limited (“T&C”) and Yourpad Milton Keynes Limited, had abandoned the companies. Hundreds of customers’ personal and financial records and house keys were found at the former trading address in Luton.
The companies were also alleged to have a lack of commercial probity, to be insolvent, not kept adequate accounting records, and to have failed to co-operate with the investigation. T&C was the only company to be defended by director, Mr David Gilmore, who said “The other companies have had complaints made against them, quite rightly” and therefore he did not contest their winding up.
Mr Gilmore, who was not present at the hearing, provided a defence to the compulsory winding up of T&C. He asserted the company had received no complaints, had a good reputation, and was a well run business. In response, Registrar Jaques, said that as the defence did not address many of the allegations, T&C was also ordered to be wound up.
1. The registered office of My Pad Asset Management Limited, Yourpad Residential Limited and Town And Country Partnership Financial Services Limited is at 16 Park Street, Luton, LU1 3EP. The registered office of Yourpad Milton Keynes Limited is at 500 Avebury Boulevard, Milton Keynes, MK9 2BE.
2. The petitions were presented under s124A of the Insolvency Act 1986 on 24 March 2009.. The companies were compulsorily wound up on 10 June 2009.
3. The Insolvency Service carries out confidential enquiries on behalf of the Secretary of State for Business, Innovation and Skills through Companies Investigation Branch.
4. The Insolvency Service administers the insolvency regime investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice.
5. All public enquiries concerning the affairs of the company should be made to: The Official Receiver, Public Interest Unit, 21 Bloomsbury Street, London WC1B 3SS. Telephone no. 020 7637 6276. Email piu.or@insolvency.gsi.gov.uk
6. Media enquiries should be directed to: Lorna Dennis, Communications Manager, and Ade Daramy, Press Officer, The Insolvency Service, 21 Bloomsbury Street, London, WC1B 3QW. Telephone: 020 7637 6279 and 020 7596 6187.
Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk/
Ins/Coms/CIB/24
