News Article

Legislation & Litigation

Dodgy carbon credit company terminated by the Insolvency Service

By CreditMan Thursday, May 30, 2013

Carvier Limited, a London-based company that marketed carbon credits to the public - and is linked with Tullett Brown Limited and Foxstone Carr Limited, both previously shut down for being rip-off merchants - has been wound up following an investigation by the Insolvency Service.

The company’s now defunct website described its business as a “carbon reduction and management services provider”. The website offered the public the opportunity to purchase carbon credits packages from Brazil to off-set carbon footprints.

The company was initially based at 133 Hounsditch, London, EC3A 7BX and had ten sales and administrative staff. In August 2012 the business was moved to 99a Mews Street, St Katherine By The Tower, London, E1W 1UG.

The investigation uncovered the company’s close association with Tullett Brown Limited and Foxstone Carr Limited, both of which had engaged in selling carbon credits for investment to the public at exaggerated prices.

The company’s brochure provided details of farm and wood production projects within the Brazilian states of Mato Grosso and Goias, namely:

* Xingu Mata Viva
* Araguaia Mara Viva
* Teles Pires Mata Viva
* Jaborandi Mata Viva and
* Vale Foundation Sustainability Credit Generation Project

As a result of the lack of co-operation on the part of the company’s officers and the inadequacy of its records, it has not been possible so far to establish the extent of the business.

Welcoming the Court’s winding up decision, Company Investigations Supervisor at the Insolvency Service, Chris Mayhew said:

“We will investigate abuses and close down companies if they are found to be operating or about to operate against the public interest. If any investor has been contacted by this company the Official Receiver now handling its affairs will be glad to receive details of its dealings with you”.

Carvier Limited was incorporated on 30 September 2011. The registered office from incorporation to 26 June 2012 was 81-82 Akeman Street, Tring, Hertfordshire, HP23 6AF and thereafter Caxton House, Old Station Road, Loughton, Essex, IG10 4PE. The recorded directors of the company have been Barinua Carr Nwikpo from incorporation and Gregory George Hall from 27 June 2012 to present date. No secretary is shown to have been appointed. The company’s share capital is shown to be 10 shares of £1 held by Mr B Nwikpo.