| Current Status: | The company was incorporated on 29 May 2008. On 31 May 2008 the company acquired the work-in-progress, prepaid expenses, fixed assets and client list of Hatherley (208) LLP which, up until 29 May 2008, was known as Classic Financial Solutions LLP. Hatherley (208) LLP was an accountancy business. It also engaged, and the new Classic Financial Solutions LLP continued to engage, in setting up and operating UK limited companies (client companies) on behalf of overseas beneficiaries for the purpose of tax avoidance.
On 17 November 2008 the Secreatry of State for Business, Innovation and Skills, in pursuance of powers conferred upon him by section 447 of the Companies Act 1985, authorised officers of Companies Investigation Branch to investigate the business of Classic Financial Solutions LLP.
David Hughes of Janes Insolvency Practitioners, Priory Lodge, London Road, Cheltenham GL52 6HH was appointed as administrator of the Company pursuant to paragraph 22 of schedule B1 to the Insolvency Act 1986 on 19 May 2009.At this time the partnership traded from two sites, one in Cheltenham and one in Bath. Mr Hughes sold the Cheltenham business on 21 May 2009 and the Bath business on 22 May 2009.
On 23 June 2009 the Secretary of State issued a petition to wind the Company up in the public interest. The grounds for winding up the Company are:-
The Company has removed funds from the accounts of client companies without authoristation.
Lack of co-operation with the Secretary of State's investigation.
Lack of transparency
On 25 June 2009 the Official Receiver was appointed as provisional liquidator of the company.
The company was wound up on 28 October 2009 and the Official Receiver is now liquidator. |
