Montevino Partners Ltd – another shocking investment bust

The Statement of Affairs has yet to appear on Companies House website. However, the following figures were provided by a creditor who attended the 28th April meeting.
 

From the £1.465 million of total debt, 53 individuals are owed £946,166 with trade customers owed £450,166 and HMRC £62,743. I assume that the 53 individuals are unfortunate investors, who thought they were buying wine from Montevino Partners but who now find that their wine was never bought and quite probably never ordered.

I understand that White has chosen to blame Brexit for the company's problems. All very convenient! However, I cannot see how Brexit prevents a company placing orders for wine for which they have received payment. 

Rest of post on my investdrinks blog here. 

Montevino Partners Mark 2: briefly active + Michael Moore jailed

Thomas Roger White Montevino Partners 
White – dismal record as a director  


Montevino Mark 2

'We try to do things a little different here at Montevino.' Thomas White 

Thomas White: details of two of his five companies – 

Spirited Ventures Ltd and Montevino Partners Ltd 

– both trading as Montevino Partners 

Debts incurred by Spirited Ventures Ltd: £691,326.93

including £155,694.15 to HMRC

£233,177.16 – trade & expense creditors 

 inc £210,601.92 to Clarendon Hills.

Thomas White director's loan – £208,869

Statement of affairs signed by White

 Stock of wine  – 'uncertain' !! 

Following the compulsory winding up in London High Court in August 2016 of Spirited Ventures Ltd trading as Montevino Partners, a second company – Montevino Partners Ltd – took over the Montevino Partners' trading name. Unfortunately I have to report that Montevino Partners Ltd is too apparently headed for liquidation. To date any deficit is not known. However, it is evident that a number of clients have yet to receive wine for which they paid in full. In some cases losses may run into six figures. 

Not to be discouraged Thomas Roger White, the sole director of Montevino Partners Ltd is now looking to launch another limited company – the MVP Wine Club. The plan is to run wine events which will be so profitable that clients' losses incurred by investing in wine through Montevino Partners will be rapidly repaid – perhaps within two years.

On 2nd May 2016 I posted – The Mysteries of Montevino Partners – on investdrinks covering the company's history to date and the then forthcoming fraud trial of Michael Moore. Although not a director Moore was a significant presence at Montevino as their senior wine advisor, although he did not feature on the Montevino Partners' website as one of their wine experts. There was no mention of Moore on the Montevino Partners' site.

Michael Moore – an update
Following a trial at Maidstone Crown Court that started in mid-November 2016 , Michael Moore was found guilty of fraud on 8th December 2016. The verdict was unanimous. The fraud charges related to previous companies that Moore had been involved in. There were no charges involving Montevino Partners. On 19th January 2017 Moore was sentenced to seven years imprisonment.
Read the rest here on investdrinks.