Based in Greenwich, London, Vinance manages more than £50m worth of fine wine assets for thousands of investor clients in nine countries.
Herron Fisher has now taken over the day-to-day control and management of the company, which was put into administration in the High Court on 16 November 2012.
Herron Fisher will aim to rescue the company as a going concern, or failing that achieve a better result for the company’s creditors as a whole than would be likely if the company was simply wound up (liquidated).
The administrators are hopeful that creditors will ultimately be repaid approximately 50% of their debt. However, this will take some time.
© FoodBev Media Ltd 2024