A petition has been presented in the High Court to wind up Britannia Land Management Ltd in the public interest.

The company was managed from Spain but also used addresses in London and Manchester when selling plots of land to people who were contacted by the company via a telesales force.

The petition to wind up the company was presented following an investigation carried out by Companies Investigations of the Insolvency Service under section 447 of the Companies Act 1985.

The Official Receiver has been appointed provisional liquidator of Britannia Land Management Ltd. The role of the provisional liquidator is to protect assets in the possession or under the control of the company pending the determination of the petition. The provisional liquidator also has the power to investigate the affairs of the company insofar as it is necessary to protect the assets including any third party or trust monies or assets in the possession of or under the control of the company.

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 18 October.