Strike off notices suspended against Bentley Global and London Property Bonds (now LP Bonds plc)

Strike-off notices against LP Bonds plc (formerly London Property Bonds) and Bentley Global, reported here in mid-November, have been suspended by Companies House, after both notices received objections.

As is standard, the identity of who objected to the striking off is not known, but the obvious candidates are one of the companies’ respective creditors (including HMRC).

Both companies remain overdue with their annual accounts (by 16 months and 7 months respectively), a criminal offence carrying potentially unlimited fines for the directors personally.

In practice this is almost never enforced in the UK.

Had the striking off notices not been suspended, both companies would have been struck off the register and their assets forfeited to the Government. Companies House retains the right to resume the striking off process if either company continues to fail to file accounts.

Troubled bond issuer Minerva Lending plc was also briefly subject to a strike-off notice but this is to be suspended today, a week after being issued. Minerva, which advertised its unregulated bonds as “high fixed returns with the security of asset-backing“, has defaulted on repayments to investors and remains overdue with its annual accounts.

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