Action taken in
the public interest
Pemberton International Limited
Eldon International Limited
Willow International Limited
Allied Investment Management Limited
Abacus Investment Management (London) Limited
The Secretary of State for Business, Innovation & Skills
has presented petitions in the High Court to wind-up, in the
public interest, five companies involved in marketing plots of
land as investment opportunities.
The petitions to wind up Pemberton International Limited,
Eldon International Limited, Willow International Limited, Allied
Investment Management Limited and Abacus Investment management
(London) Limited (see Editors notes below) were presented
following confidential enquiries carried out by Companies
Investigation Branch (CIB) under section 447 of the Companies Act
1985, as amended.
On the application of the Secretary of State the Official
Receiver has been appointed by the Court as provisional liquidator
of the companies. The role of the Official Receiver is to protect
the assets and financial records of the companies pending
determination of the petitions.
As the matter is before the Court no further information will
be made available until the petitions are determined. The
petitions are all listed for hearing on 31 March 2010.
The application to appoint a provisional liquidator was first
heard on 8 October 2009, but at this hearing the companies,
through their directors (see Editors notes below), offered to give
undertakings to the Court as to their future conduct and to cease
trading pending the determination of the petitions. The Court
accepted that these undertakings were sufficient to protect the
public interest pending trial of the petitions. The undertakings
however were not fully complied with and accordingly the Secretary
of State returned to Court on 17 December 2009 with a further
application to appoint a provisional liquidator. The companies did
not oppose this further application. The Court accepted there had
been a failure to comply with the undertakings and ordered the
appointment of the Official Receiver as provisional liquidator of
the companies.
Ins/Coms/PIU/62
Notes to Editors
1. Pemberton International Limited was incorporated on
14 August 2003. The registered office of the company is at 50
Ellison Road, London, SW16 5BY. The sole recorded director of the
company is Mr De’Rial White who is shown to have been appointed on
15 January 2009. The previous directors of the company are shown
to have been Mr Omar Eshpari (from 7 April 2008 until 3 November
2008) and Mr Steven David Lawrence Tagg (from 3 November 2008
until 6 January 2009). No company secretary is shown to have been
appointed in succession to Mr Carl John Pearson who is recorded as
secretary from 7 April 2008 until 17 December 2008.
2. Eldon International Limited was incorporated on
14 August 2003. The registered office of the company is at 50
Ellison Road, London, SW16 5BY. The sole recorded director of the
company is Mr De’Rial White who is shown to have been appointed on
15 January 2009. The previous director of the company is shown to
have been Mr Stevan David Lawrence Tagg (from 23 July 2008 until 6
January 2009). No company secretary is shown to have been
appointed in succession to Mr Oliver Wilson who is recorded as
secretary from 23 July 2008 until 19 January 2009.
3. Willow International Limited was incorporated on
21 August 2008. The registered office of the company is at 50
Ellison Road, London, SW16 5BY. The sole recorded director of the
company is Mr De’Rial White who is shown to have been appointed on
15 January 2009. The previous director of the company is shown to
have been Mr Jose Emilio Gongora (from 21 August 2008 until 15
January 2009). No company secretary is shown to have been
appointed in succession to Mr Carl John Pearson who is recorded as
secretary from 21 August 2008 until 15 January 2009.
4.
Allied Investment Management Limited was incorporated
on 8 October 2008. The registered office of the company is at 50
Ellison Road, London, SW16 5BY. The sole recorded director of the
company is Mr De’Rial White who is shown to have been appointed on
10 October 2008. The previous directors of the company are shown
to have been Mr Stefan Mitchell (from 8 October 2008 until 10
October 2008), Mr Majgan Rassoli (from 8 October 2008 until 17
November 2008) and Mr Dean Benjamin Straker (from 8 October 2008
until 17 November 2008). The company secretary of the company is
Mr Stefan Mitchell who is shown to have been appointed on 8
October 2008.
5. Abacus Investment Management (London) Limited was
incorporated on 6 November 2008. The registered office of the
company is at Rutland House, 90-92 Baxter Avenue, Southend-on-Sea,
Essex SS2 6HZ. The sole director and secretary of the company is
Mr Ashley Cunningham who is shown to have been appointed on 6
November 2008.
6. The petitions to wind up the companies in the public
interest were presented on 29 September 2009 under the provisions
of section 124A of the Insolvency Act 1986.
7. The Official Receiver was appointed as provisional
liquidator of the companies on 17 December 2009.
8. Companies Investigation Branch, part of the Insolvency
Service, carries out confidential enquiries on behalf of the
Secretary of State for Business, Innovation & Skills (BIS).
9. 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.
10. All public enquiries concerning the affairs of the
company should be made to: The Official Receiver, Public Interest
Unit , Tel No 0207 637 1110: Email: piu.or@insolvency.gsi.gov.uk
11. Further information about the work of The Insolvency
Service is available from http://www.insolvency.gov.uk
12. Media Enquiries should be directed to: Lynne Nasti, Press
Office Manager 020 7674 6910 or Ade Daramy, Press Officer on 020
7596 6187.
Contacts:
Ade Daramy
Phone: 020 7596 6187
ade.daramy@insolvency.gsi.gov.uk