A real estate company with debts of some £500,000 has been granted more time to settle up after being the victim of a raid by the Serious Fraud Office (SFO).
The High Court heard TRB Estates (Liverpool)’s shared offices were hit by an SFO raid on another company.
Mr Registrar Nicholls chose to give the business until March 5 to get its “records back in order”.
Counsel for the company – whose parent company is Euston Square Properties – had previously appealed for an 84-day adjournment rather than 28 days to reorganise its files.
He said: “We seek somewhat longer – the companies’ offices are shared with ones raided by the SFO.
“As a result a number of files were taken and the company needs to get its records in order.”
Petitioning creditor HM Revenue and Customs (HMRC) said the company had debts of more than £500,000 dating back to an officer’s assessment carried out in 2006.
The revenue also said a previous hearing had been adjourned in November last year due to the raid.
According to the Liverpool Daily Post, a former director of TSB Estates, William Kearns, was made bankrupt in June 2010.
And previous company secretary, Sam Beilin, was declared bankrupt at the same time. The pair also used to work for Euston Square Properties. ”
By Andy Pearce
Subscribe to Insolvency Today