Goldman Vicenti Ltd, a company that offered debt collection services, was wound up by the High Court on 16 January 2013 on grounds of public interest.
The winding up follows the presentation of a winding up petition on behalf of the Secretary of State for Business, Innovation and Skills and an investigation by Company Investigations (CI) of The Insolvency Service.
Goldman Vicenti Limited, which was based in Wakefield and commenced trading in November 2011 was wound up on a petition
The investigation showed that the company charged customers an up front fee of up to 595 to provide debt collection services and also charged the debtors who owed these companies money, unjustified additional collection fees.
CIs investigation established, and the court found that the company failed to adhere to its own terms and conditions of service by:
charging VAT on its services, despite it not being registered for VAT,
charging debtors excessive fees and collection charges,
failing to refund clients the full debt collected on behalf of the client,
failing to safeguard monies recovered from debtors on behalf of customers.
The investigation also showed Goldman Vicenti Ltd also failed to:
explain transactions on its bank accounts,
provide evidence of testimonials used on its website or,
to maintain adequate books and records as is the statutory duty of company directors.
Although the company failed to maintain adequate books and records, the investigation established that Goldman Vicenti Ltd appeared to be insolvent with liabilities due to its clients as well as to HM Revenue & Customs.
The High Court found that it was in the public interest that Goldman Vicenti Ltd be wound up.
Commenting on the case, Alex Deane, an Investigation Supervisor with The Insolvency Service said:
This company engaged in unacceptable business conduct in that it failed in its duty to its customers and their clients.
They deliberately posted false testimonials on their website thus giving the incorrect impression that they were trustworthy.
The Insolvency Service will take action to remove such companies from the business environment.