The two members of the investor group want a liquidator to wind up business at the British Virgin Island company Trading Partners, get to the bottom of the reasons for the group’s collapse and recover their money.
A full hearing is due next month.
‘I believe this should be investigated’, one of the investors, Michael Moseley told the Financial Times. ‘I can’t think of anyone else who could do it apartfrom a liquidator’
Versailles floated on the Alternative Investment Market in 1995 and grew to a market value of £630m by the time its shares were suspended in December after the accounting irregularities were discovered.
The group of 20 super-wealthy investors were owed £23m when Versailles went bust.
Investors have claimed that they were unaware that the funds had been channelled from the UK to the British Virgin Islands, chosen for its minimal disclosure laws.
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Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel