Thursday, 11 June 2009

Winding up in the public interest considered by Sir Edward Evans-Lombe in the High Court

Sir Edward Evans-Lombe (sitting as a judge of the High Court - he retired on the 30th September 2008) has recently handed down his judgment in Secretary of State for Business, Enterprise & Regulatory Reform v Charter Financial Solutions Ltd & Ors [2009] EWHC 1118 (Ch).


    "a) The whole business model was misleading to the public and flawed. Far from being a successful business model, the business operated by FSUK of selling finance on behalf of third parties and franchising the same, was the successor business to the business of CFS which had ceased to trade because of the County Court judgments registered against it."

    Paragraph e) reads as follows:

    "e) Additional misleading statements are made on the FSUK website. The website claims that 'Finance Select (UK) Ltd is part of the FSUK group and have been established for over 22 years'. However checks on Companies House reveal that there is no UK incorporated business with the name FSUK Group or any registered companies with a similar name. FSUK itself was not incorporated until 11 July 2007."
Picture Credit: http://www.isil-aca.org/images/img-p-3-1-3.jpg

No comments:

There was an error in this gadget