Update on Liquidation of UK Land Investments
Following the decision by the Financial Services Authority (FSA) of UK to shut down UK Land Investments, Lee Manning and Carlton Siddle of Deloitte & Touche LLP, the appointed Joint Administrators of the company, released a report on their findings a few days ago.
Creditors (including plot owners) of the company are advised to read the report and see what are the options available to them. The report is confidential so I do not wish to reveal too much of the details here.
Just for your information, the sole owner of UKLI is a person by the name of Baljinder Chohan. He has a number of companies in other countries that have similar names to UK Land Investments yet they do not have a common corporate parent. In addition, there were a number of loans by UKLI to these other companies which were made on non-commercial terms.
If you happen to have any dealings with these companies, I would encourage you to do the necessary due diligence before making any sort of commitment.
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