Bid to wind-up property investment firm
THE Government is bidding to wind-up a North West property business which sought to invest in cities with forthcoming Capital of Culture status.
A provisional liquidator has been appointed at Liverpool-based European Property Management, which was registered to offices at 48-52 Penny Lane in the city.
The company was set up in March 2006 ahead of Liverpool’s year as Capital of Culture in 2008.
The Department for Business has presented a High Court petition to wind up the firm in the public interest at a hearing on May 11.
The company sold shares in itself to the general public, with the intention of raising funds to invest in property in cities with upcoming European Capital of Culture status, thereby benefit ting from a surge in property values associated with the award.
The petition to wind up the company was presented after an investigation carried out by the Companies Investigation Branch under section 447 of the Companies Act 1985.
The Official Receiver was appointed as provisional liquidator on February 11. According to Companies House the only director of European Property Management is Ian Jenkinson, 43, of Grove Road, Wirral.
