INSOLVENCY SERVICE News Release (Ins/Coms/03) issued by The Government News
Network on 12 May 2006
The Secretary of State for Trade and Industry has presented petitions in
the high court to wind up Tan Kwik (UK) Limited and Kwik Jet (UK) Limited
in the public interest.
The companies are Warrington-based and carry on business as franchisors. Tan
Kwik (UK) Limited sells sun bed hire franchises. Kwik Jet (UK) sells two
types of franchise; one involving franchisees providing a multi surface
pressure cleaning service and the other involving franchisees providing a
suspended ceiling tile renovation service.
The petitions to wind up the companies were presented following investigations
carried out by Companies Investigation Branch under Section 447 of the
Companies Act 1985 (as amended) and are listed for hearing on 4th July 2006.
The official receiver has been appointed provisional liquidator of Tan Kwik
(UK) Limited and Kwik Jet (UK) Limited.
This case is now subject to High Court action and no further information
will be made available until the petitions are heard in the High Court on
4th July 2006.
Notes to Editors
1. The registered office and place of business of both companies is at 222
Europa Boulevard, Gemini Business Park, Warrington WA5 7TN. Tan Kwik (UK)
Limited was incorporated in June 2003 and commenced trading in December
2003. Kwik Jet (UK) Limited was both incorporated and commenced trading in
August 2004.
2. The petitions were presented under s124A of the Insolvency Act 1986. The
official receiver was appointed as provisional liquidator of both companies
on 12 May 2006. The role of the provisional liquidator is to protect and
preserve the assets and financial records of the companies.
3. Companies Investigation Branch (CIB) carries out confidential enquiries
on behalf of the Secretary of State for Trade and Industry, under Section 447
of the Companies Act 1985. This power is used to investigate a company where
there is potential serious misconduct, fraud or malpractice and empowers
investigators to compel the production of documents and information from
the company or any other person. Each case is assessed to decide whether
an investigation is in the public interest and, where necessary, CIB takes
further action in the name of the Secretary of State.
4. CIB is (from 1 April 2006) part of The Insolvency Service . The Insolvency
Service is an executive agency of the Department of Trade and Industry. The
Service administers the insolvency regime investigating all compulsory
liquidations and individual insolvencies (bankruptcies) through the official
receiver, to establish why they became insolvent. The Insolvency Service also
authorises and regulates the insolvency profession; deals with disqualification
of directors in corporate failures; assesses and pays statutory entitlement
to redundancy payments when an employer cannot or will not pay employees;
provides banking and investment services for bankruptcy and liquidation
estate funds; and advises ministers and other government departments on
insolvency law and practice.
5. All public enquiries concerning the affairs of the company should be made
to the official receiver at: Official Receiver, Public Interest Unit North,
PO Box 326, 1st Floor Boulton House, 17-21 Chorlton Street, Manchester M60
3ZZ. Telephone: 0161 934 4182. e-mail: piu.north@insolvency.gsi.gov.uk
