Carbon credit company Global Neutral Ltd has been ordered into provisional liquidation following a petition presented by the Secretary of State for Business, Innovation & Skills to wind up the company in the public interest.
The petition was issued following confidential enquiries carried out by Company Investigations, part of the Insolvency Service.
The Official Receiver has been appointed by the High Court as provisional liquidator of the company on the application of the Secretary of State. The role of the Official Receiver is to protect the assets and financial records of the company pending 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 its assets including any third party or trust money or assets in the possession of or under the control of the company.
As the matter is before the court no further information will be made available until the petition is determined. The petition is listed for hearing on 30 January 2013.