Swift House Solutions Ltd, based in Stourbridge, has been wound up following an investigation by the Insolvency Service.
Swift House Solutions Limited (Swift) which offered repossession and eviction advice services to the public has been wound up in the High Court.
The investigation found that Swift had continued the business of Repossession Management Bureau Limited, RMB Assets Limited and OM Payments Limited, which had all been would up by the court on 1 September 2015 following an earlier Insolvency Service investigation.
Swift, which traded under the style ‘Manage My Repo.co.uk’, had targeted and taken advantage of vulnerable members of the public desperate for a resolution of their housing concerns. In particular, the company made misleading and unfounded statements to clients and there was a lack of transparency regarding the fees Swift would charge. Swift obtained secured charges on clients’ properties. Clients were told the charge was to ‘protect the client’s equity’ should the property be repossessed by the mortgagee. In reality, the charges secured the Swift’s fees.
It was also found that there was a lack of transparency regarding those involved in the company’s management and operations.
Before the start of the enquiry, the person controlling Swift, John Paul Dowdeswell (who also used the alias ‘Paul Dowd’), tried to hide his involvement through the appointment of a Nominee Director.
Commenting on the case, Alex Deane, an Investigation Supervisor with the Insolvency Service, said:
Where it becomes aware of such activities, the Insolvency Service can and will close down companies that abuse the vulnerability of people in financial difficulties. However, I would urge people faced with repossession proceedings to take proper professional advice before granting a further charge on their property. Whilst this is ostensibly to ‘protect their equity’, in reality it serves only to secure excessive fees for the advisor.
Notes to Editors
Swift House Solutions Limited (CRO 05724813) was incorporated on 28 February 2006.
The registered office of the company is at 1 Burwood Place, London, W2 2UT, but it traded from the director’s home address.
The petition to wind-up the company was presented under s124A of the Insolvency Act 1986 on 20 November 2015 and the company was placed into Provisional Liquidation under the control of the Official Receiver on 26 November 2015. The company was wound up by the High Court on 10 May 2016.
Repossession Management Bureau Limited (CRO 08710372) was incorporated on 30 September 2013 and wound up by the Court on 1 September 2015. The registered office of the company is at Fort Dunlop, Fort Parkway, Birmingham, B24 9FE. The directors were Daljit Kaur Dhillon and Michael Walter Cheslin.
RMB Assets Limited (CRO 09185563) was incorporated on 21 August 2014 and wound up by the Court on 1 September 2015. The registered office of the company is at Fort Dunlop, Fort Parkway, Birmingham, B24 9FE. The directors were Daljit Kaur Dhillon and Michael Walter Cheslin.
OMP Payments Limited (CRO 08190869) was incorporated on 24 August 2012 and wound up by the Court on 1 September 2015. The registered office of the company is at 91 Soho Hill, Birmingham, B19 1AY. The directors were Daljit Kaur Dhillon and Michael Walter Cheslin.
On 17 May 2013 the Solicitors Disciplinary Tribunal found that John Paul Dowdeswell (a solicitor’s clerk) had failed to report material facts to clients and ordered that, except with Law Society permission, no solicitor or other recognised body shall employ or remunerate Mr Dowdeswell.
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, Innovation & Skills (BIS).
Further information about live company investigations is available here.
The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. It may also use powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK.
In addition, the agency authorises and regulates the insolvency profession, deals with disqualification of directors in corporate failures, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.
By virtue of the winding up order all public enquiries concerning the affairs of the company should be made to:
The Official Receiver, Public Interest Unit, 2nd Floor, 3 Piccadilly Place, London Road, Manchester, M1 3BN. Tel: 0161 234 8531 Email: email@example.com.
Contact Press Office
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Published: 27 July 2016
From: The Insolvency Service