Micasa WW Ltd, along with Remultex Ltd, have been wound up by the Excessive Court docket within the public curiosity, and the Official Receiver has been appointed liquidator of the businesses.
An Insolvency Service investigation discovered that Micasa had seen round £1.3 million cross via its accounts from February 2019, when it began working, till December 2020.
The corporate had been recognized as doubtlessly concerned in a cryptocurrency rip-off, though the shortage of accounting data meant it was not doable to confirm whether or not its enterprise was reliable buying and selling exercise.
Investigators did establish that it had secured a £50,000 Bounce Again Mortgage (BBL), though there was additionally no proof that the corporate was eligible beneath the scheme guidelines.
Practically all of the BBL was transferred to Remultex Ltd, which seems to have began working in December 2019. Remultex additionally obtained its personal BBL of £30,000, though it was equally not doable for investigators to substantiate that the corporate was entitled to the BBL. Along with the Bounce Again Mortgage funds obtained from Micasa, Remultex obtained funds from three different corporations, totalling practically £250,000 by December 2020. Virtually all of this was withdrawn from the enterprise in money.
As with Micasa, there have been no accounting data to elucidate Remultex’s transactions.
Given the that each corporations traded with an absence of economic probity and had taken public cash to which they might not have been entitled, Decide Woodward sitting within the Excessive Court docket in Manchester agreed that closing down the businesses was within the public curiosity.
As a part of their duties, the Official Receiver as Liquidator will search to get better and realise the property of the corporate to make returns to collectors.
David Hope, Chief Investigator on the Insolvency Service, stated:
These corporations didn’t function in a clear trend and failed to keep up correct accounting data.
There isn’t any proof they have been entitled to taxpayers’ cash via the Bounce Again Mortgage scheme, and it’s possible that Micasa was funnelling funds as a part of a cryptocurrency rip-off.
Notes to editors
Micasa WW Ltd, firm quantity 11673352.
Remultex Ltd, firm quantity 12284381.
All public enquiries regarding the affairs of the businesses ought to be made to: The Official Receiver, Public Curiosity Unit, sixteenth Flooring, 1 Westfield Avenue, Stratford, London, E20 1HZ. Phone: 0300 678 0015 E-mail: piu.or@insolvency.gov.uk.
Firm Investigations, a part of the Insolvency Service, makes use of powers beneath the Firms Act 1985 to conduct confidential fact-finding investigations into the actions of reside restricted corporations within the UK on behalf of the Secretary of State for Enterprise, Power and Industrial Technique (BEIS). Further information about live company investigations is available here
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