A Chesterfield-based insolvency advice firm has been ordered into provisional liquidation on public interest grounds.
Baker Donald Ltd, which traded as a licensed insolvency practitioner, was put into provisional liquidation at Manchester High Court on 18 February.
A petition was presented against the company by the Secretary of State for Business, Innovation and Skills and an investigation by the Insolvency Service.
Allegations against the company by the Secretary of State included the company’s “failure to maintain, preserve and/or deliver up accurate accounting records” meant it was not possible to “distinguish between funds held on behalf of clients or third parties and those belonging to the company.”
Baker Donald claimed it initially traded “providing general corporate insolvency advice, referring client cases to an Insolvency Practitioner (IP)”, before expanding to hire an in-house IP.
The Official Receiver has been appointed as Provisional Liquidator.
The case is now subject to High Court action and no further information will be made available until the petition is heard in the High Court on