High Court orders coloured diamond investment company into provisional liquidation

GIA diamonds

London-based coloured diamond investment company Heritage FA has been ordered into provisional liquidation following a petition presented by the Secretary of State for Business, Innovation & Skills to wind up the company on grounds of public interest.

The petition was issued following confidential enquiries carried out by Company Investigations, part of the Insolvency Service, under section 447 of the Companies Act 1985, as amended.

The court appointed the Official Receiver provisional liquidator of the company, on the application of the Secretary of State, without notice to the company.

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The role of the Official Receiver is to protect the assets and financial records of the company pending 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 its assets including any third party or trust monies or assets in the possession of or under the control of the company.

Chris Mayhew, Company Investigations supervisor, states: “As the matter is before the Court no further information will be made available about the case until the petition is determined by the Court. The petition is listed for first hearing on 9 March 2016.”

Heritage FA Limited was incorporated on 23 April 2013 and operated the following websites:

  • www.heritagefineassets.co.uk
  • www.heritagefineassets.com
  • www.www.heritage-fine-assets.com
  • www.heritage-fa.com

The petition to wind up the company was presented in the High Court on 4 December 2015 under the provisions of section 124A of the Insolvency Act 1986.

On the application of the Secretary of State, without notice to the company, Mr Justice Newey appointed the Official Receiver as provisional liquidator of the company on 14 January 2015.

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