Liquidator to sell 500 cases of fine wine

Nearly 500 cases of fine Bordeaux wines left over following the collapse of Bordeaux Fine Wines Limited (BFW) have been put up for sale.

A case of Chateau Haut-Brion 2002

The UK-based wine firm sold fine wine to private individuals as an investment opportunity, but failed to purchase sufficient wine to fulfil orders cheating dozens of investors out of their savings.

The investment firm used cold calling and aggressive sales tactics to sign victims up to its scam and was placed into provisional liquidation in January following an investigation by the Insolvency Service, with claims by investors left out of pocket so far totalling an estimated £30,000,000.

Jo Swinson, consumer minister, said: “This is a particularly disgraceful scam as it not only preyed on older people trying to maximise their savings, but also targeted their sincere desire to make ethical investments. Instead, investors have been left out of pocket with shares that are either worthless or do not exist.”

David Ingram of Grant Thornton UK LLP, appointed liquidator of BFW, identified about 1,000 bottles of high end fine and rare wine owned by BFW and has to date sold 302 cases to Bordeaux Index.

Ingram is now seeking to sell off the company’s remaining stock to recover at least some of the losses for the benefit of the liquidation estate, with 478 cases of high-end wines including 2001 Le Pin, 1982 Petrus, 2000 Mouton Rothschild and 2010 Lafleur up for grabs.

Ingram said: “The scale of losses by investors in BFW is shocking. I have spoken to several investors and am appalled by the sums involved. Many of the investors that I have spoken to have lost very significant sums of money, which would have otherwise have been used to secure their retirement. BFW has changed that for many people, ruining what should be a contented retirement.”

Anyone involved in the purchase of wine through BFW is requested to contact Alex Taylor of Grant Thornton UK LLP for advice on making a claim.

For more information on submitting a closed bid for the wines held in BFW’s two accounts, please email matthew.d.vines@uk.gt.com or alex.j.taylor@uk.gt.com by 10 October 2014.

Scroll through to see some of the wine lots on offer…

 Wines for sale – cases and bottles

Wines for sale – cases