INSOLVENCY SERVICE
News Release (Ins/Coms/06) issued by The Government News Network on
9 May 2008
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