Interior design company wound up for fake accounting
29 Nov 2018
An interior design company based in Kent has been wound up in by the courts after it was found to be used as a vehicle to fraudulently secure credit
29 Nov 2018
Bluethorne Trading Ltd claimed to be an interior design business, operating from an office in Medway.
But the Insolvency Service was made aware of complaints and following an investigation, the High Court ordered the company be put into provisional liquidation on 28 September. It has now been wound up in the public interest, with the Official Receiver appointed as liquidator.
It was discovered that the company relied on false and inflated accounts to give the impression it was a profitable business in order to apply for credit for a wide variety of products, some not typically associated with its stated business.
Investigators found no evidence that the company ever carried out any legitimate business to support the accounts filed with the Registrar of Companies and Bluethorne Trading failed to co-operate with enquiries.
In making his ruling to wind up the company, Judge Jones found that its 2017 and 2018 accounts were false and applications made on the back of those accounts were also fraudulent.
Judge Jones added that the conduct of the company and its officers was wrong and ‘such conduct cannot be allowed to continue’.
Irshard Mohammed, case manager for the Insolvency Service, said: ‘The company was used as a vehicle for the fraudulent application for credit relying on the false accounts filed to make the company appear a good credit risk.
‘These winding-up proceedings show that we will use the full weight of our powers to take firm action against companies that operate in such an unscrupulous way.’
Report by Pat Sweet