Insolvency Service
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Insolvency bulletin - provisional liquidator appointed to business publisher
The Secretary of State for Business, Enterprise & Regulatory Reform has presented a petition in the High Court to wind up Fast Track Media Limited in the public interest.
The company, based in Leamington Spa, carried on business as a publisher of a medical recruitment journal, and generated income from the sale of advertising space for medical recruitment advertisements. The company dealt with NHS Trusts throughout the UK, private hospitals, charities, and advertisers based overseas. The petition to wind up the company was presented following an investigation carried out by Companies Investigation Branch under section 447 of the Companies Act 1985 (as amended).
The Official Receiver has been appointed provisional liquidator
of Fast Track Media Limited. The role of the provisional
liquidator is to protect assets in the possession or under the
control of the company pending the determination of the petition.
The provisional liquidator also has the power to investigate the
affairs of the company insofar as it is necessary to protect the
assets including any third party or trust monies or assets in the
possession of or under the control of the company.
The case is
now subject to High Court action and no further information will
be made available until the petition is heard in the High Court on
25 June 2008.
NOTES TO EDITORS
1. The registered office of Fast Track Media Ltd is at 27 Old Gloucester Street, London, WC1N 3XX and the company was incorporated on 17 November 2005.
2. The petition was presented under s124A of the Insolvency Act 1986. The Official Receiver was appointed as provisional liquidator of Fast Track Media Ltd on 02 May 2008.
3. The Insolvency Service carries out confidential enquiries on behalf of the Secretary of State for Business, Enterprise & Regulatory Reform 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, PO Box 326, 17 - 21 Chorlton Street, Manchester, M60 3ZZ. Tele: 0161 934 4182 Email: piu.north@insolvency.gsi.gov.uk
6. Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk
