Drinks Firm Wound Up After Falsifying Bank Info For Loans
Law360, London (February 19, 2021, 6:34 PM GMT) -- A drinks business that borrowed more than £300,000 ($420,000) from banks using bogus paperwork has been wound up to protect the public from further harm, the Insolvency Service has said.
Concerns were raised about the accuracy of Liquor World (Scotland) Ltd.'s filed accounts, the government agency said, and it launched a confidential investigation.
The company's accounts revealed a "dramatic and unexplained" improvement in its financial standing between 2019 and 2020, the agency said on Thursday. Liquor World used these figures to apply for credit such as loans and asset finance, the Insolvency Service added.
The business was wound up in court on Feb....
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