A web of disreputable land banking and carbon credit companies have all been ordered into liquidation in the High Court on grounds of public interest following an investigation by Company Investigations (“CI”) of the Insolvency Service.

Before being closed down, the companies between them mis-led the public into investing around £6.5 million.

The companies involved are Manor Rose Limited, MR Investment Club Limited, MR Investment Club Phase 1 LLP, Manor Rose Carbon Credit Limited, Betta Build (NW) Ltd, MRT Land Holdings Ltd, Boldacre Ltd, Morgan Rey Consultants Limited and Dakota Partners International CC Limited

Manor Rose Limited and a company called Dakota Partners International Limited (see Note 8 below) and Dakota Partners International CC Limited operated land banking businesses selling small plots of land for investment to the public and also offered to the public carbon credits for investment (see Note 16).

Morgan Rey Consultants Limited, MRT Land Holdings Ltd and Boldacre Ltd were an integral part of the land banking business acting as intermediaries between at least ten different sales agents (including Manor Rose Limited, Dakota Partners International Limited and Dakota Partners International CC Limited) and the various land owners who gave permission to the companies to market and sell the plots on the respective sites.

The sites were at:

1 – Cross Keys, Keys Farm. Mattishall, Norfolk.

2 – Flax Lane, Ormskirk, Lancashire.

3 – Hollinsfield, Hollins Farm, Burnley, Lancashire.

4 – Gambles Development, Gambles Lane, Bishops Cleve, Cheltenham.

5 – Portvale Mill, Middleport, Stoke-on-Trent.

Misleading statements were made by the companies in order to sell plots of land at these sites (and shares in Portvale Mill) at over the market value to members of the public who they cold called making false representations that the investments would bring significant returns in a 2-3 year period.

In an attempt to further deceive potential investors into purchasing plots of land at one particular site at Flax Lane, Ormskirk, Lancashire, the brochures included a letter from Betta Build (NW) Ltd of 1A Deysbrook Lane, Liverpool, L12 8RE which falsely stated that they were interested in developing the Flax Lane site.

Plots of land at both the Cross Keys and Flax Lane sites were also sold by another land banking company called Century Property Group Limited which was ordered into liquidation on grounds of public interest on 4 April 2012 having raised over £10 million from the public – see news release “Court orders unscrupulous land banking company into liquidation” issued on 5 April 2012.

Source: creditman