New Horizon Energy Limited and New Horizon Energy LLC (incorporated in the State of Illinois, USA) have been placed into provisional liquidation following an investigation by Company Investigations of the Insolvency Service.
Both companies have sought investments from members of the public for oil wells in the United States.
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 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 a petition to wind up the company is heard in the High Court on 7 October 2015.
Notes to editors
New Horizon Energy Limited was incorporated on 27 July 2012 under the name of Natural Gas Investments Limited (Company Registration number 08159655). The registered office of the company is 10th Floor, One Ropemaker Street, London, EC2Y 9HT.
New Horizon Energy Limited Liability Company was organised on 12 November 2012, file number 04149114, in the state of Illinois. The registered office of the company is 939 West North Avenue, Ste 750, Chicago, Illinois IL 606420000.
The recorded director of both companies is Adam Skeet.
The petition was presented under s124A of the Insolvency Act 1986. The Official Receiver was appointed as provisional liquidator of the company on 5 August 2015 by Mr Justice Norris.
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.
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.
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Published: 18 September 2015
From: The Insolvency Service