Carbon credit company Eco Global Markets Limited has been ordered into provisional liquidation by Manchester Crown Court on public interest grounds, following confidential enquiries by Company Investigations, part of The Insolvency Service.
The company marketed carbon credits as an investment to the public. The petition was presented on behalf of the Secretary of State for Business, Innovation & Skills (BIS).
The Official Receiver has been appointed by Manchester Crown Court as provisional liquidator of the company on the application of the Secretary of State. The role of the provisional liquidator is to protect the assets and financial records of the company pending the outcome of the petition.
The provisional liquidator also has the power to investigate the companys financial affairs to safeguard its assets on behalf of its creditors. This includes 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 13 March 2013.