Railway Trust delighted as they announce deal completed with administrators of Llangollen Railway PLC wrexham.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wrexham.com Daily Mail and Mail on Sunday newspapers.
A DEAL has been completed for the purchase of assets belonging to Llangollen Railway, it has been said. The Leader reported earlier this month how administrators of the collapsed operator Llangollen Railway PLC said advanced negotiations were taking place with a potential buyer. The trust has now announced it has completed a deal with the administrators of Llangollen Railway plc, Cowgill Holloway Business Recovery LLP, for an undisclosed sum, to purchase certain assets belonging to the railway along with the right to use the railway line. A spokesman said: This was the first key step towards recovery and thoughts now turn fully to the task of preparing for reopening as we continue on our journey to protect and preserve this beautiful part of our heritage.
Deal completed with administrators of Llangollen Railway | Denbighshire Free Press denbighshirefreepress.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from denbighshirefreepress.co.uk Daily Mail and Mail on Sunday newspapers.
UK Financial Conduct Authority: Blue Gate Capital Limited Enters Liquidation Date
02/03/2021
Blue Gate Capital Limited (Blue Gate) has appointed insolvency practitioners to conduct the liquidation of the firm.
We publicly censured Blue Gate in December 2020 and ordered it to pay £203,007 in restitution to investors who lost money investing in the Connaught Income Fund, Series 1. Details of this action can be found on our website.
Blue Gate had until 8 January 2021 to pay the restitution to us for onward distribution to investors. We subsequently issued a statutory demand for payment.
Blue Gate’s shareholders have taken the decision to place the business into insolvent liquidation via a creditors voluntary liquidation.
Several months after the FCA ordered the firm to pay £203,007 in restitution to investors
Blue Gate Capital has appointed Jason Mark Elliott and Craig Johns of Cowgill Holloway Business Recovery on 1 March 2021 to liquidate the company.
The firm was one of the operators of the Connaught Income Fund Series 1, which collapsed in 2012 causing investors to lose around £118m ($164m, €136m).
The Connaught fund was an unregulated collective investment scheme run by Capita Financial Managers and, from 2009, Blue Gate Capital, providing short term bridging finance to commercial operators in the UK property market.
Fine
After an investigation into the scandal, the FCA said that the firm “failed to communicate with the fund’s investors in a way that was clear, fair and not misleading”.