Did you invest in the 'The Base', Highcross Street, Leicester Development?
Address: The Base, Highcross Street, Leicester, LE1 4NN, UK
Developer: The Base Leicester Ltd
Directors and Shareholders: Mr Paul Rodman and Mr David Morgan
Status: The Base Leicester Ltd is now in liquidation by David Rubins & Partners
David Rubins & Partners LLP,
Pearl Assurance House,
319 Ballards Lane,
London, N12 8LY, UK
Tel: 020 8343 5900
David Rubins & Partners were appointed on 04/11/2014
Their last report was on the 01/06/2015 and can be downloaded here.
Position from Liquidators June 2015:
Investors will receive no dividend as a result of this liquidation.
The development land has now been sold on to Northgate Street Ltd. (NSL). The liquidator originally disputed this transfer and viewed it as "extremely suspect" after they established that "NSL was a company controlled by persons from NWIC [the property bond provider, Northern and Western Insurance Company Ltd] and Melior Developments Ltd, a company closely related to NWIC". The liquidators eventually dropped their objection to this sale, in return for the relatively small sum of £125,000.00. All of this money is likely to be absorbed by liquidation fees.
The latest report from the liquidators states that they are trying to recover £541,000.00 which they regard as improperly paid to the directors and shareholders of The Base Leicester Ltd.
Position from Liquidators June 2016:
The liquidators have had limited success in recovering fees from the former directors.
It is very unlikely that there will be any significant dividend payable to investors.
Would you like to make a claim to recover your investment?
Our action group is open to investors in this development.
If you were an investor and would like to make a claim for your losses,
please register with us via our contact form.