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Investigation leads to shutdown of ‘asset recovery’ company that recovered no assets


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Investigation leads to shutdown of ‘asset recovery’ company that recovered no assets

 

Two linked companies that claimed to be able to recover funds for people who had lost money in alternative investments have been ordered into liquidation by the High Court.

 

Asset Recovery Associates Limited (ARA) was incorporated as a private company in July 2011. The linked company, Asset Recovery Resources (ARR) Limited was incorporated as a private company in December 2012. Both had the same registered office address in Warrington.

 

The companies held themselves out as being able to recover funds lost by victims of failed alternative investment schemes.

 

However, an investigation by the Insolvency Service, launched following complaints, found ARR’s claims to be false. The reality was that there was little or no prospect of funds being recovered.

 

READ MORE HERE: https://www.gov.uk/government/news/investigation-leads-to-shutdown-of-asset-recovery-company-that-recovered-no-assets

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