Bordeaux Fine Wines Ltd (BFW), a company that sold wine to investors, was put into provisional liquidation by the High Court in the public interest on 19 December 2013, following an investigation by the Insolvency Service.
BFW, based in Croydon, South West London sold fine wines, mostly from the Bordeaux region to customers as an investment, cold calling potential customers. The order follows a petition on behalf of the Secretary of State for Business, Innovation and Skills.
The Official Receiver has been appointed provisional liquidator of BFW. 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 money or assets in the possession 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 hearing of the petition which is due to be heard in the High Court on 26 February 2014.