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Why High Street GRP Limited (HSG) investor-creditors must act now...
- Have you invested in High Street GRP Limited?
- Do you know about the company’s insolvency?
- Are you interested in recovering your losses?
If you invested in unregulated investment property company High Street GRP Limited (HSG), you could still recover some of your loss.
You will need to act now and join with Insolvency & Law to stop director Gary Forrest and Gibraltar-based security trustee Castle Trust & Management Services Limited (Castle Trust) from placing HSG into administration with their choice of administrators.
According to the evidence Forrest filed in court, HSG could enter administration on Thursday 16 December 2021 owing more than 1,500 investor-creditors over £118million.
High Street GRP investors must act swiftly
Should investor-creditors continue to place their trust in the company's management?
Or should investor-creditors stop Forrest and Castle Trust from choosing the administrators who will effectively mark HSG's homework if the company enters administration?
Insolvency & Law recommends that investor-creditors reject Forrest and Castle Trust's choice of administrators.
Unless investor-creditors choose administrators who are independent of Forrest and Castle Trust, HSG would be best placed in compulsory liquidation, under the control of the Insolvency Service, the government agency responsible for "...tackling financial wrongdoing and maximising returns to creditors."
Compulsory liquidation includes considerable oversight and investigations by the Insolvency Service who will appoint independent liquidators to:
- Take control of the Special Purpose Vehicles (SPVs) not already in statutory insolvency procedures
- Conduct investigations
- Preserve or realise assets
- Invite the Secretary of State for Business, Energy & Industrial Strategy to consider Director Disqualification Proceedings, and compensation orders in favour of investor-creditors
Greater transparency for High Street GRP investors
If you are a HSG investor-creditor, you should download, complete, sign, and return your consent form no later than Tuesday 14 December 2021 - to reject the administrators proposed by Forrest and Castle Trust, and have:
- HSG placed into compulsory liquidation
- The company's directors and its affairs investigated by the liquidators and Insolvency Service
- Gary Forrest and others become the subject of compensation orders to reimburse investors of their loss
CALL 020 7504 1300 ...
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