An environmental asset-management company which leased plots of land in West Africa has been ordered into provisional liquidation by the High Court.
Greenleaf Global Plc (Global) was slapped with a winding-up petition by the Secretary of State for Business, Innovation and Skills.
It followed an investigation by Company Investigations – part of the Insolvency Service (IS) -into the Twickenham-based business.
Greenleaf acted as an agent for a public-marketed scheme which leased plots of land in Togo for the cultivation of Jatropha trees. Oil can be extracted and used as bio-diesel from these trees.
The Official Receiver (OR) has been appointed provisional liquidator and will protect the assets in the possession or under the control of the company until the petition is determined.
The OR also has the power to investigate the company’s affairs.
The IS will not be releasing any further information about the business until Greenleaf’s winding-up hearing takes place.
According to the company’s latest accessible accounts published in August 2011 Greenleaf employed 13 people.
It recorded a turnover of £1.9m and also registered a post-tax profit of £71,792.
Company Investigations carries out confidential enquiries on behalf of the Secretary of State for Business, Innovation and Skills (BIS).