It’s not in liquidation.
On 20/10/21
Voluntary Administrators were appointed by directors due to becoming insolvent.
Followed immediately by
creditors appointing Receivers & Managers the same day to take control.
With the sale of assets then conducted for the benefit of creditors by way of a completed Deed of Company Arrangement and various administrative processes, the remains of the company was then effectively handed back to Ian Middlemas.
Shareholders are still shareholders, no event has yet occurred to crystalize a tax loss for CGT purposes. We wait for Middlemas & co to do something next, tho it’s unlikely until the class action is resolved as this could have implications for the shell that remains (which shareholders still own).
