Liquidation for investment vehicle of Ukip MEP
THE York-based investment vehicle of Ukip MEP Godfrey Bloom has gone into liquidation.
TBO Investments, trading from an address in Escrick, appointed liquidators at FRP Advisory yesterday.
The company has been shut down following a creditors’ voluntary liquidation after effectively ceasing trading at the beginning of 2014, remained active to deal with ongoing claims.
One of these was a claim launched in March 2013 by Andrew and Kirsty Mohun-Smith accusing the company of professional negligence. The couple claimed TBO had gambled money on unregulated, high-risk schemes.
A trial was due for 23 June 2014, however just weeks before, the company stopped paying their solicitors. TBO director Scott Robinson had been declared unfit for work by his GP due to stress three days before the trial and was absent in court.
The court ruled against TBO in the absence of a representative for the firm, ordering it to pay the Mohun-Smiths £2.2m in total.
In April this year the company appeared before a Court of Appeal, which declared the High Court’s treatment of the case “too draconian.”
The FRP spokesperson said that there were five remaining creditors of the company. Following the Court’s decision, the directors were satisfied in their duties and liquidated the company.
Ukip MEP Godfrey Bloom was a director of TBO between 1992 and 2004 and remained its largest stakeholder.
UDPATE: The representatives of Mr and Mrs Mohun Smith at Raworths have been in touch to say that the case on their claims are ongoing. There are multiple creditors making claims against TBO.
More to follow…
