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Montpellier Estates enters liquidation

Date Added: 16/08/2013  

Yorkshire-based Montpellier Estates has gone into liquidation after being served with a winding up order earlier in the summer.

The running of the company's land and property assets have been handed over to liquidators after no deal to secure the future of the firm could be secured.

According to a report by the Yorkshire Evening Post, Montpellier passed a resolution that it is to be voluntarily wound up at a meeting that took place on August 7th at its head office in Harrogate.

Millionaire businesswoman Jan Fletcher was the owner of the firm, which was ordered to pay £2 million in costs to Leeds City Council in April this year.

The company had lost a £40 million damages claim against the local authority over the way the competition to develop the city's new concert arena was handled.

Two months later, the council issued a winding up order against Montpellier Estates as it had not paid the costs involved in the legal case as requested. The local authority stated that it had given Ms Fletcher's firm "every opportunity" to come up with the money.

Leeds City Council has now said it intends to pursue Ms Fletcher personally for the money it is still owed by the firm, though the winding up order has been discontinued as a result of the company announcing it has gone into liquidation.

Firms facing winding up orders need to take company debt advice as soon as possible in order to have the best chance of survival. Many organisations are still finding it hard to balance the books as a result of the fallout of the recesson, although the UK's economy is now starting to bounce back and grew by 0.6 per cent in the second quarter of the year.

But with business lending conditions still tight, meaning many firms are unable to access the funds they need to create jobs and grow their enterprises, the futures of a lot of companies are still at risk, which could threaten to derail the country's economic recovery.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Michael Beam

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