INSOLVENCY SERVICE
News Release (Ins/Coms/21) issued by The Government News Network on
16 August 2007
Two associated
companies, one set up to introduce clients to both regulated and
unregulated brokers, and the second, an unregulated broker, have
both been closed down by the High Court, following an
investigation by Companies Investigation Branch of the Insolvency Service.
Blenheim Acquisitions Limited ("Blenheim"), was set up
and run by Simon Lingard and Stephen Maly. The company used an
accommodation office in London, but was managed and controlled by
Mr Lingard from Barcelona, and Mr Maly from his home in London.
Blenheim approached various FSA regulated brokers on behalf of
clients, to establish interest in client company shares.
Whilst Blenheim were unsuccessful in trying to sell client shares
through regulated brokers, it then turned to unregulated offshore
brokers to sell client shares. Those included the second wound up
company, Devere Proprietary Trading Limited ("Devere").
Devere, managed by Clifton Bailey, is also believed to have been
run from Barcelona, although it also traded through a UK
accommodation address.
NOTES TO EDITORS
1. The registered office of Blenheim is at Turnberry House, 1404
- 1410 High Road, London, N20 9BH. The company used an
accommodation address at 53 Chandos Place, London, WC2N 4HS. The
registered office of Devere is at Carioca Business Park, 2 Sawley
Road, Manchester, M40 8BB. The company used an accommodation
address at 27 Old Gloucester Street, London, WC1N 3AF.
2. The petitions to wind up the companies in the public interest
was presented on 16 May 2007 under the provisions of Section 124A
of the Insolvency Act 1986 following an investigation conducted
under Section 447 and 453A of the Companies Act 1985 by Companies
Investigation Branch of the Insolvency Service. The petitions were
heard on 25 July 2007, at which time the companies were wound up.
3. The Insolvency Service carries out confidential enquiries on
behalf of the Secretary of State for Business, Enterprise and
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 become 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: The Official Receiver, Public Interest Unit, 21
Bloomsbury Street, London, WC1B 3SS. Public Enquiries: 0207 637 1110
6. Further information about the work of The Insolvency Service
is available from http://www.insolvency.gov.uk