It was wound up in the public interest on a petition presented to the court by the Department of Trade and Industry following an investigation carried out by its Companies Investigation Branch. The grounds of the petition included:

a) The scheme involves a money circulation scheme and is therefore unlawful and objectionable,

b) That the company was insolvent, and

c) That the company was engaged in an unlawful business and its affairs were being conducted with a complete lack of commercial probity.

The court agreed, and a winding-up order was made.

On 8 December 2005 the Official Receiver held a meeting of creditors. At that meeting a resolution was passed to appoint Mr Paul Appleton of David Rubin and Partners, 26-28 Bedford Row, London, WC1R 4HE (telephone: 020 7400 7900) as liquidator. The liquidator is dealing with the realisation of the company’s assets, and enquiries regarding this should be addressed to Mr Appleton.