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13 UK companies in provisional liquidation

Staff Writer |
Thirteen companies have been placed in provisional liquidation following an investigation by Company Investigations of the Insolvency Service.

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Eleven of the companies were involved in the acquisition, development and/or operation of The Convent Hotel & Spa in Woodchester, near Stroud, Gloucestershire, that traded as a hotel and music venue.

The two other companies, The Convent in the Hills Limited and The Convent in the Hills 2 Limited raised investments to acquire land and develop a separate project in Norway.

Private individuals entered into investor agreements with at least eight of the companies raising a minimum of £7.8 million.

The land and buildings of The Convent Hotel & Spa are currently under the control of LPA receivers who were appointed in respect of a secured charge held by a financial institution.

The companies all traded from The Convent, Convent Lane, Woodchester, Stroud, Gloucestershire, GL5 5HS.

The role of the provisional liquidator is to protect assets in the possession or under the control of the companies pending the determination of the petitions.

The provisional liquidator also has the power to investigate the affairs of the companies insofar as it is necessary to protect assets including any third party, or trust monies, or assets in the possession of, or under the control of the companies.

The case is now subject to High Court action and no further information will be made available until petitions to wind up the companies are heard in the High Court on September 20, 2017.