Category: Uncategorized

MJS Capital sells Tempus Magazine to private security specialist

MJS Capital and Colarb Capital logos
~ Brev ~ 3 Comments

Tempus, the luxury lifestyle magazine, has relaunched after a five-month hiatus, after being sold by collapsed unregulated investment firm MJS Capital (now Colarb).

Tempus was effectively acquired by MJS Capital in March 2017, and used extensively to sell its unregulated bonds, with frequent double-page ads in the magazine and advertorial articles about MJS Capital itself, which misleadingly described the bonds as low risk.

The September 2018 issue, ironically named a "Wealth Edition", was the last under MJS Capital's ownership. The magazine then ceased to publish for several months.

At the end of January 2019, however, Tempus published a further issue under new ownership. The contents page identifies Vantage Media Limited or Vantage Media Group as the new owners.

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London Capital & Finance: what happened and when?

London Capital & Finance logo
~ Brev ~ 6 Comments

After London Capital & Finance recently admitted that it was insolvent and put itself into administration, bringing a three-year career of persistent misselling to an end, now seems a good time to look back upon its short life - and what the FCA did about it during that time.

July 2015: An obscure company called Sales Aid Finance (England) Limited renames itself London Capital & Finance, despite being based in Tunbridge Wells, about 20 miles away from Greater London's outskirts. This appears to have signalled the launch of its new business model.

October 2015: A member of the public asks the Moneysavingexpert forum about LCF after coming across them while Googling for "investment ideas". The forum is unanimous in advising them not to invest.

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London Property Bonds fails to file accounts on time, strike-off notice issued

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London Property Bonds (renamed LP Bonds plc), which issued bonds worth £489,000 to the public, has been issued with the second strike-off notice of its short life. It has been overdue with its accounts since May 2018 and is also overdue with its confirmation statement (details of its directors and owners).

If the company continues to fail to meet its legal duties and no objection is received to the strike-off, the company will be removed from the Companies House register in March 2019 and all its assets will be forfeited to the UK Government. The directors also risk prosecution under the Companies Act.

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Secured Energy Bonds administrator seeks £5.6 million from the ashes of Independent Portfolio Managers

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The administrators of Secured Energy Bonds have posted their latest six monthly update, which can be read in full on Companies House.

So far the administration has realised £288,579 in assets, of which £272,905 has been paid out in administration costs, predominantly the administrators' own fees and the fees of their legal advisors (and VAT). According to a schedule in Appendix B, a further £169,842 has been incurred in legal fees to date but not yet paid out. Bondholders' claims stand at £7.5 million.

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Fuzzy Brush accounts overdue, strike-off notice issued by Companies House

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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.

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