Motor traders wound up

TWO Chester-based motor trading companies have been wound up in the High Court after an investigation by a government agency.

The Companies Investigation Branch (CIB) of the Insolvency Service found that Car World Direct.Com Limited was insolvent and had failed to maintain adequate accounting records.

The service also said there was, “a lack of transparency as to the person controlling the affairs of the company”. It was also alleged that a disqualified director was involved in managing the company.

A related company, Penney Holdings Limited, was also found to have kept inadequate accounting records and the same disqualified director was involved in its management.

In a statement the Insolvency Service said: “The High Court found that it was expedient in the public interest that both companies be wound up.”