Investment Firm Shut Down For 'Plundering' Assets

Law360, London (May 12, 2020, 4:34 PM BST) -- An investment vehicle that used deception to buy sustainable businesses before "plundering" them of assets and staff pension contributions has been wound up in court, the Insolvency Service said Tuesday. 

Charles James Associates Group Ltd. was forced into insolvency "in the public interest" on May 4 at the High Court in London after an investigation by the Insolvency Service, a government agency. The company was found to have targeted small, family-run businesses across the country and operated them "to the detriment of their creditors and employees."

Irshard Mohammed, senior investigator at the Insolvency Service, said the group "cynically purchased companies through deception...

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