Insolvency Service
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Education providers placed into provisional liquidation
Precision Training UK Limited
Aspire Training and Assessment Ltd
Petitions to wind up two companies that offered NVQ training courses were presented to the High Court on 18 February 2010. This follows an investigation carried out by Company Investigations of the Insolvency Service under Section 447 of the Companies Act 1985 (as amended).
Precision Training UK Limited and Aspire Training and Assessment Ltd, received training fees from over 1,000 students and their sponsors, a large number of students being from outside the UK. Precision was based at a main office in Burnham, Berkshire, and operated nationwide.
The role of the provisional liquidator is to protect assets in the possession or under the control of the companies pending the determination of the petitions. The provisional liquidator also has the power to investigate the affairs of the companies insofar as it is 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 cases are now subject to High Court action and no further information will be made available until the petitions are heard in the High Court on 19 May 2010.
Notes to Editors
1. The registered office of Precision Training UK Limited is at 60 – 62 High Street, Burnham, Berkshire, SL1 7JT, which is the former trading address of that company. The registered office of Aspire Training and Assessment Ltd is at 889 Harrow Road, Sudbury, Middlesex, HA0 2RH.
2. The petitions were presented under s124A of the Insolvency Act 1986. The Official Receiver was appointed as provisional liquidator of the companies on 18 February 2010.
3. The Insolvency Service carries out confidential enquiries on behalf of the Secretary of State for Business, Innovation and Skills through Company Investigations of the Insolvency Service.
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. Specific information about the company, including contact details in the Public Interest Unit can be viewed here:
6. Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk
7. Media Enquiries should be directed to: Lynne Nasti, Press Office Manager, Insolvency Service, 21 Bloomsbury Street, London, WC1B 3QW or Ade Daramy, Press Officer.
Ins/Coms/CI/78
Contacts:
Ade Daramy
Phone: 020 7596 6187
ade.daramy@insolvency.gsi.gov.uk
Lynne Nasti
Phone: 020 7674 6910
lynne.nasti@insolvency.gsi.gov.uk
