Property investment companies placed into provisional liquidation

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Rationale Asset Management PLC, Value Asset Management PLC and Merydion Corporation Limited were involved in property investment and were previously placed into provisional liquidation in the High Court.

A provisional liquidator was appointed and the Official Receiver has responsibilities to protect assets in the possession or under the control of the companies pending the determination of the winding up petitions presented by the Secretary of State for Business, Energy and Industrial Strategy .

The Official Receiver is inviting investors and creditors of the three property companies to contact her office to provide details of their claims to assist with the provisional liquidation.

If you are an investor, creditor or shareholder of the companies, the Official Receiver is requesting that you register your interest by email to piu.or@insolvency.gov.uk providing the following information:

  • Name
  • Contact details
  • Date and details of your investment, shareholding or debt

The orders placing the companies into provisional liquidation came as a result of an earlier hearing at the High Court on 27 August 2020. This followed an application issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy.

The provisional liquidator has the power to investigate the affairs of the companies as necessary to protect assets including any third party, or trust monies, or assets in the possession of, or under the control of the companies.

The case is now subject to High Court action and no further information will be made available until petitions to wind up the companies are heard in the High Court on 12 January 2021.

Notes to editors

The three companies in provisional liquidation are:

  • Rationale Asset Management PLC – company registration number 10278737 – was incorporated on 14 July 2016. The company’s registered office is at Silverstream House, 4th Floor, 45 Fitzroy Street, London, W1T 6EB
  • Value Asset Management PLC – company registration number 10706398 – was incorporated on 4 April 2017. The company’s registered office is at 23 King Street, London, SW1Y 6QY
  • Merydion Corporation Limited – company registration number 09755209 – was incorporated on 1 September 2015. The company’s registered office is at Beck House, 77a King Street, Knutsford, Cheshire, WA16 6DX.

The Official Receiver was appointed as provisional liquidator of the companies on 27/08/2020 by Mr Edwin Johnson QC sitting as a Deputy High Court Judge of the High Court in London.

Company Investigations, part of the Insolvency Service, uses powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK on behalf of the Secretary of State for Business, Energy & Industrial Strategy (BEIS). Information about how to complain about a live company.

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