wine-searcher

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Friday, 11 April 2014

En primeur Bordeaux 2013: if told it's an investment – it's a scam!

Château Lafite-Rothschild: 

If you get a cold call try to persuade you to buy 2013 Bordeaux en primeur you can be sure that it is a scam. Although there may not be a lot that unites the Bordeaux châteaux, wine critics and wine merchants around the world, all are agreed that 2013 is not a vintage for investment. Made in very difficult conditions, this is a vintage for early drinking not for long storage with the hope that the price will increase significantly over time. As far as 2013 is concerned it won't.  

The UK wine trade appears to have little enthusiasm for selling 2013 Bordeaux en primeur and their customers even less.

So, anyone who tries to persuade you to buy 2013 Bordeaux en primeur as an investment either doesn't know what they are talking about or is a telesales scamster only concerned to separate you from your hard-earned cash!  

Monday, 31 March 2014

Good news: two further companies being closed in public interest


Capital Bordeaux Investment Corporate Limited and Capital Bordeaux Investments Limited
It is good to see that the Insolvency Service is now busy pursuing other dubious wine investment companies following forcing Ken Gundlach's Bordeaux Fine Wines Ltd into liquidation. On 13th February Capital Bordeaux Investment Corporate Limited and Capital Bordeaux Investments Limited were put into provisional liquidation by the High Court in London on public interest grounds. The full hearing of the petition is on 14th May. It is, however, rare for the directors of companies put into provisional liquidation to oppose public interest petitions.

Message from Grant Thornton:      
'Capital Bordeaux Investment Corporate Limited & Capital Bordeaux Investments Limited in provisional liquidation 
'Capital Bordeaux Investment Corporate Limited (CBIC) & Capital Bordeaux Investments Limited (CBI) companies that sold wine to investors, were placed into provisional liquidation by the High Court in the public interest on 13th February 2014, following an investigation by the Insolvency Service.
 
The Official Receiver is acting as provisional liquidator in both matters with a hearing set for 14 May 2014 at 10.30am in London to place the companies into formal compulsory liquidation. It is from this point that an Insolvency Practitioner may be appointed to act as Liquidator to investigate the financial affairs of the company and seek to maximise the potential return to creditors.

Should you want advice on your options please contact Samantha Street, a manager at Grant Thornton, at samantha.j.street@uk.gt.com or on 0207 728 2651.'

Investdrinks is prepared to post similar notices from other insolvency practitioners. 

Monday, 17 March 2014

Bordeaux Fine Wines Ltd: more details on meeting to appoint liquidator


The meeting (Friday 14th March) was chaired by Phil Amatt, Assistant Official Receiver. David Ingram secured the majority of votes and consented to the appointment to act as Liquidator.

All known creditors will be written to confirming David Ingram's (Grant Thornton) appointment and advising of the next steps. This letter will be issued once the handover papers have been received from the Official Receiver's office and initial investigations have been undertaken. 

Should there be any creditors who have not previously been contacted by The Official Receiver or do not believe they are a known creditor they are asked to contact Matthew Vines or Alex Taylor of Grant Thornton to register their details. It should be noted that any creditors who have lodged a proof of debt form do not need to make contact as these forms will be made available by The Official Receiver to the Liquidator. 

Contacts:
Alex Taylor: alex.j.taylor@uk.gt.com