Property investment company goes into liquidation
Property investors in the Sussex area are currently living in fear after an investment company has fallen into liquidation. The company Passive Investments offered its clients 'portfolio builder contracts' costing around £60,000 each. The company would then use £7,000 paid up-front by the clients to purchase property and let it out.
Unfortunately the company has recently encountered financial difficulties forcing it into liquidation, leaving investors thousands of pounds out of pocket. The news was received by the clients in the form of a letter from one of the 'millionaire' founders describing how they were entering voluntary liquidation and clients would not have to manage the properties themselves. The letter then went on to say how they would be no longer purchasing any properties, even if a client had paid the money up-front.
The collapsed Property Company has brought about a massive dispute between tham and the investors, after clients stand to loose thousands of pounds.
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