The High Court in Manchester originally ordered the winding up of PAG Management Services Ltd in 2015, but the order was suspended pending an appeal lodged by the company. This has now been formally dismissed at the companys request.
Two associated companies, complicit in the operation of the scheme, Ashburton Solutions Ltd and Beacon Property Solutions Ltd, were also wound-up in the public interest.
Under the scheme operated by PAG Management Services Ltd special purpose vehicle companies, such as Ashburton Solutions Ltd and Beacon Property Solutions Ltd, were formed and controlled by PAG Management Services Ltd.
Each special vehicle company would sign a number of leases, typically 20, relating to empty commercial properties. Each lease wa…
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