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....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!