Vintage Wines employees on trial for fraud
After investigation by the Serious Fraud Office (SFO) five employees of a St Albans wine company are go on trial for conspiracy to defraud.
Jim Budd moved from education to wine in 1988 and has written for Decanter since 1989. He is the former editor (1991-2015) of Circle Update, the newsletter of the Circle of Wine Writers. He writes the award-winning www.jimsloire.blogspot.com and is one of the five members of the Les 5 du Vin blog. Budd exposes the dangers of drinks investment on his award-winning www.investdrinks.org website, and complementary www.investdrinks-blog.blogspot.com blog. He also contributes to Hugh Johnson’s Pocket Wine Book, Wine Behind the Label and the Academie du Vin. Budd is a keen photographer – especially in the Loire.
After investigation by the Serious Fraud Office (SFO) five employees of a St Albans wine company are go on trial for conspiracy to defraud.
Wine investment company Bordeaux Advisory has disappeared leaving investors chasing hundreds of thousands of pounds worth of wine that had been bought at ten times its real value.
Wine merchant PMH Wines Ltd has become the latest UK merchant to fail to pay Bordeaux négociants for en primeur wines.
Collapsed UK wine merchant The Cellaret failed to pay Bordeaux negociants for 2005 en primeur ordered and paid for by their customers, it has emerged.
Evans & Tate, Australia’s sixth largest producer has called in the administrators.
Chateau de Marmorieres in La Clape has become the latest victim of major fraud, with the theft of 18,000 bottles worth €50,000 (£34,000).
The long running Evans & Tate saga looks set to end following the announcement that a legally binding restructuring agreement has been signed.
After the collapse of a restructuring deal with bankers ANZ, struggling Australian producer Evans & Tate is being courted by two potential rescuers.
Proposals sent out to Uvine creditors last week offer them the chance to get 95% of their money back.
Uvine directors could face criminal prosecution on nine counts of financial misconduct following a recent administrators’ report to creditors.
After two wine merchants went bust last year, buyers of en primeur in 2007 need to make sure they safeguard their assets, says Jim Budd
EU regulations that allow En Primeur buyers to return their wine and demand a refund are under review and may be changed.
Customers who bought Bordeaux 2005 en primeur from collapsed wine merchant the Cellaret, still do not know whether they will get their wine.
London fine wine merchant The Cellaret will be put into liquidation next week.
ANZ Bank is to take a majority stake in struggling Australian wine producer Evans & Tate.
The board of Australian winery Evans & Tate today rejected the Yarraman Winery merger bid.
Two months after Yarraman Winery first launched its bid to take over Evans & Tate a decision appears finally in sight.
Australian wine group Evans & Tate has today turned down the takeover bid from Yarraman Winery.
Australian wine industry-watchers are waiting with increasing interest to see if Yarraman’s multi-million dollar bid for Evans & Tate succeeds.
Two UK company directors have been disqualified for 15 years for their part in an ingenious £80m wine and spirit investment scam targeting American doctors.
Two parties have emerged as favourites in the competition to take over collapsed wine fund Uvine – including the company’s three directors.
There may be criminal prosecutions following the collapse of Uvine in September.
Investigators into the Uvine collapse suspect criminal conduct, decanter.com has learned.
The wine exchange Uvine is in the hands of administrators with debts believed to be in the region of £2m.
Following the collapse of Mayfair Cellars amid claims of fraud, collectors are concerned about how their wine is stored. Jim budd looks into what went wrong at Mayfair and asks whether merchants are doing enough to ensure their customers’ wines are safe��
Customers of the collapsed wine merchant Mayfair Cellars are facing mixed fortunes as further issues come to light.
The finance director of collapsed Mayfair Cellars systematically looted nearly £1m of customers’ wines, passing the money he made onto his partner, an official report says.
One of the best estates in the Loire has sent shockwaves through the wine establishment by moving its entire production to screwcap.
See slso The decanter.com guide to wine and Sipps In his pre-budget statement in the House of Commons yesterday the Chancellor Gordon Brown appears to have slammed the door on putting wine into SIPPs (Self Invested Personal Pensions).
General questions What exactly is a SIPP? What is A-Day? What is pensions simplification? What will simplification mean for me as an ordinary person? What are some of the main changes? How does it compare to my company pension? I have heard that I can put all sorts of assets, including wine, into a pension in future. Is this true? Do I need to use a financial adviser? How can I find a good adviser? Who sells SIPPs and how much do they cost? Is there a list of SIPP providers? Can I get tax relief on my pension investments? Wine-related questions Is wine free of Capital Gains Tax? What is the benefit of putting wine into a pension fund? What are the drawbacks of putting wine into a pension fund? Can I put wine I already own into a pension? Can I use wine from my pension when it's ready for drinking? Is wine a good investment for a pension fund? Will all SIPPs providers accept wine from A-day? How can I buy wine for a SIPP? Where can I buy wine for a SIPP? If I buy from a merchant not linked to my SIPP provider will there be a charge? How will the wine in my SIPP be valued? I hear that the price of fine wine is currently going through the roof. Is this correct? Which wines should I put into my SIPP? What about en primeur? How will the Inland Revenue define ‘fine wine’? What about investing in a wine fund? So what are the dangers? What should I do before A-Day? Useful websites