The company was involved in the acquisition of agricultural land, which was then sub-divided and sold to the public as an investment.

On 22nd January 2008 the Secretary of State for the Department of Business, Enterprise and Regulatory Reform petitioned for the appointment of the Official Receiver as the Provisional Liquidator on the grounds that it was in the public interest to do so following an investigation carried out by Companies Investigation Branch.

The role of the provisional liquidator is to protect assets in the possession or under the control of the Company pending the determination of the petition. The provisional liquidator also has the power to investigate the affairs of the company insofar as it is necessary to protect the assets including any third party or trust monies or assets in the possession of or under the control of the company.

On 15 February 2008 the Official Receiver as provisional liquidator circulated a letter to all known customers with extended payment plans then in operation.

On 16 July 2008 the court made a winding-up order against the company and the Official Receiver is liquidator.

The Official Receiver will review the company's records to, amongst other things, determine the company's assets and determine liabilities to individual creditors. This review may be an extended exercise but by 10 September 2008 the Official Receiver aims to report to all known creditors in writing.

If the Official Receiver is able to report to creditors any sooner he will do so, and he will amend this website entry accordingly.

Last updated 22 July 2008.

The Official Receiver issued a report to all known creditors on 10 September 2008 advising them of a meeting of the company’s creditors to be held on 16 October 2008.

On 16 September 2008 the Official Receiver wrote to all known customers of the company requesting information. If you are a customer of the company and you also consider yourself to be a creditor in the liquidation, you should respond to the Official Receiver’s request for information as soon as possible.

Last updated 16 September 2008.

“At the first meeting of creditors on 16 October 2008, the Chairman adjourned the meeting to 11am on Thursday 23 October 2008. The adjourned meeting will be held at the Official Receiver’s office at 21 Bloomsbury Street, London WC1B 3SS. The purpose of the meeting on 23 October 2008 will be for creditors to resolve to appoint a liquidator other than the Official Receiver to act as liquidator of the company. If you are a creditor and you wish to vote at the meeting on 23 October 2008, you must submit a proof of debt form to the Official Receiver of the Public Interest Unit at the address shown above (or by fax to 0207 637 6390, or by email to hina.rana@insolvency.gsi.gov.uk) by noon on 22 October 2008. If you wish to nominate someone else to vote on your behalf at the meeting, you must also submit a proxy form by noon on 22 October 2008.

[Last updated 16 October 2008].”

“At a meeting of the company’s creditors on 23 October 2008, creditors resolved to appoint Mr I Richardson and Mr K Hellard of Grant Thornton UK LLP, 30 Finsbury Square, London, EC2P 2YU as liquidators of the company.

All queries concerning claims in the liquidation and distributions (payments) to creditors should now be directed to the liquidators and not to the Official Receiver.

[last updated 28 October 2008]”