Gold Property Developments Limited and Gold Property Construction Limited - in Liquidation

On 13th October 2023, Mark James Tobias Banfield and David Robert Baxendale were appointed as Joint Liquidators of Gold Property Developments Limited (“GPD”). On 13th October 2023, Mark James Tobias Banfield and Ross David Connock were appointed as Joint Liquidators of Gold Property Construction Limited (“GPC”), together referred to as (“the Companies”). 

GPD was established for the development of building projects and GPC was established for the construction of domestic buildings. The Companies formed part of a group of subsidiary companies that had been loss making in recent years which required considerable shareholder lending. As a result of an unprofitable construction project and financial implications of a recent transaction, the group faces upcoming cash flow pressures. 

Despite the efforts of the Companies to negotiate with the customer on the construction contract, the Companies have not been able to obtain the additional funding required to complete the contract and therefore, it is no longer in the best interests of the creditors to continue to trade. On 5 October 2023, the board resolved by way of a board meeting that the Companies should be placed in voluntary liquidation.

If you have any questions about the liquidation and wish to contact the liquidation team, please email uk_goldpropertydevelopments@pwc.com for GPD and uk_goldpropertyconstruction@pwc.com for GPC.

Mark James Tobias Banfield and David Robert Baxendale have been appointed as joint liquidators of Gold Property Developments Limited, and Mark James Tobias Banfield and Ross Connock have been appointed as joint liquidators of Gold Property Construction Limited to manage their affairs, business and property, and act without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. 

The Joint Liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics

The Joint Liquidators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Liquidators.