Insolvency Service (National): High Court action to shut down two land banking companies

The Secretary of State for Business, Innovation & Skills has presented petitions in the High Court to wind up in the public interest two companies involved in marketing plots of land as an investment opportunity.

The petitions to wind up Montrose Partners Limited and The Montrose Partnership Limited were presented following confidential enquiries carried out by Company Investigations, part of the Insolvency Service, under section 447 of the Companies Act 1985, as amended.

On the application of the Secretary of State the Official Receiver has been appointed by the Court as provisional liquidator of both companies. The role of the Official Receiver is to protect the assets and financial records of the companies pending determination of the petitions. The provisional liquidator also has the power to investigate the affairs of the companies 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 companies.

As the matter is before the Court no further information will be made available until the petitions are determined. The petitions are listed for hearing on 6 July 2011.

Ends

Notes to editors

1. Montrose Partners Limited was incorporated on 21 August 2009. The registered office of the company is at Union House, 65-69 Shepherds Bush Green, Shepherds Bush, London, W12 8TX. The recorded directors of the company are Mr Jose Emilio Gongora and Mr Dean Benjamin Straker.

2. The Montrose Partnership Limited was incorporated on 28 October 2009. The registered office of the company is at Hendford Manor, Yeovil, Somerset, BA20 1UN. The sole recorded director of the company is Mr Jose Emilio Gongora.

3. The petitions to wind up the companies were presented on 16 December 2010 under the provisions of section 124A of the Insolvency Act 1986.

4. The Official Receiver was appointed as provisional liquidator of the companies on 17 December 2010.

5. Company Investigations, part of the Insolvency Service, carries out confidential enquiries on behalf of the Secretary of State for Business, Innovation & Skills (“BIS”).

6. 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.

7. All public enquiries concerning the affairs of the company should be made to: The Official Receiver, Public Interest Unit , Tel No 0207 637 1110: Email: piu.or@insolvency.gsi.gov.uk

8. Further information about the work of The Insolvency Service is available fromhttp://www.insolvency.gov.uk

9. Media Enquiries should be directed to:

Denise Rawls, Press Office Manager, on 020 7674 6910 or

Ade Daramy, Press Officer on 020 7596 6187

Contacts

NDS Enquiries 
Phone: For enquiries please contact the issuing dept 
ndsenquiries@coi.gsi.gov.uk