London Capital & Finance has been ordered by the Financial Conduct Authority to remove all its marketing materials.
At time of writing, every page of its website londoncapitalandfinance.co.uk has been replaced with the following notice: Continue reading...
Fuzzy Brush Products Limited was previously reviewed on this site in April when it was offering 1 and 2 year bonds paying interest of up to 14.43% per year.
Since that review, Fuzzy Brush has also started offering investment in its vending machines, under which investors invest up to £250,000 in Fuzzy Brush vending machines in exchange for a return of up to 19.7% per year for a 3 or 5 year term.
Fuzzy Brush Products has been overdue with its December 2017 accounts since September 2018, and Companies House has now issued a strike off notice.
A court date has finally been set for the Government's winding up petition against Store First and related companies.
The winding up petition was originally announced back in July 2017, but was then adjourned. The trial is now due to take place on 15 April 2019 (almost two years after the original announcement) at the Manchester District Registry of the High Court.
Tempus Magazine was a luxury lifestyle magazine first published in 2012. If you liked yachts, luxury holidays and pictures of watches (lots of pictures of watches), Tempus was the magazine for you.
In March 2017 Tempus was effectively acquired by the unregulated minibond issuer MJS Capital. MJS MD Shaun Prince became its Chief Executive Officer, and the owner was named in Tempus' contents pages as Tempus Media Limited (taking over from Curve Content Limited). Tempus Media Limited was wholly owned by Martin Westney, an MJS Capital director.
This arrangement was referred to by Tempus as "sponsorship" but having the same CEO as your "sponsor", having another director of your "sponsor" owning the company which is named as the publisher, and substantial influence on editorial output goes well beyond sponsorship.
Oddly, Tempus Media's September 2017 accounts claimed it was a dormant company, even though by then Tempus Magazine clearly stated that it was owned by Tempus Media Limited.
Tempus' website (tempusmagazine.co.uk) is now down, and the magazine has not published its usual issue for November. Martin Westney has also applied to have Tempus Media Limited struck off the register. Oddly, his application to Companies House claims that Tempus Media Limited had not traded in the past three months, even though he signed this application on 4 September, only a day after Tempus Media's last issue was published.
With Tempus Magazine apparently no more, let's take a moment to reminisce about its history under its new owners. Continue reading...
Marcello Developments (UK) Limited launched in 2015 and raised £3.6 million from investors in five year loan notes paying interest of 8% in years 1-2, 9% in years 3-4 and 10% in year 5.
The company's February 2018 accounts would have been due at the end of November 2018, however at the last minute - days before they became overdue - it decided to extend its accounting date to June 2018. This means it now has until March 2019 to submit the 2018 accounts under UK company law.
Independent Portfolio Managers, the minibond promoter which was hit by a slew of Ombudsman complaints for its role in the collapse of Secured Energy Bonds and Providence Bonds, has gone into liquidation.
When I last reported on the company in late October I overlooked that a creditor had already petitioned to wind up the company. This petition was heard two weeks ago, and the winding up commenced on 14 November.
Interestingly, the creditor who brought the petition against Independent Portfolio Managers was the administrator of Secured Energy Bonds.
Last month the administrators of Krono Partners, top-10 accountancy firm Smith & Williamson, published their initial report into the company.
Smith & Williamson was appointed after Krono Partners stopped paying interest on its bonds in March 2018. This was apparently due to bank accounts operated by Jade State Wealth, a subsidiary of Krono’s escrow partner Accounting Worx Limited, being frozen.
Why Krono Partners has been unable to find another payment administrator, if this was the only thing preventing it from making payments, and has had to undertake the dramatic (and expensive) step of going into administration, is not addressed by the administrators.