UKLI Limited (In Liquidation)

Frequently asked questions in relation to Regents Land

Q: I purchased my plot from a company called Regents Land - What is the relationship between UKLI and Regents Land?

A: Regents Land appears to have entered into an agency relationship with UKLI whereby UKLI sales staff negotiated and arranged plot sales on Regents' behalf, but ultimately Regents Land Investors bought plots from Regents Land and not from UKLI.

Unless a Court orders otherwise Regents Land legally owned the land sold to Regents Land Investors and continues to own the land it has retained in each development being land at either:-

1. Earl Shilton

2. Finchampstead

3. Rearsby

4. Severn Beach

Q: Who should I contact at Regents Land in relation to my plot?

A: Regents Land has now been wound up. The Official Receiver’s Office (which is part of Her Majesty’s Civil Service and overseen by the UK Government) is responsible for dealing with enquiries in respect of the winding up proceedings and can be contacted on 01727 832233, or at the following address:

Mr M Arnold

Official Receiver's Office

1st Floor

Trident House

42-48 Victoria St

St Albans

AL1 3HR

Tel: 01727 832233

Fax: 01727 732400

Q: Are the Liquidators of UKLI dealing with Regents Land?

A: At present the Liquidators of UKLI (and any member of Deloitte's staff or their advisers) have no legal authority to deal with the affairs of Regents or its investors, this includes the signing or locating of TP1 or TR1 land transfer forms. Any claims investors believe they have against Regents Land are at this stage claims solely against Regents Land and should be addressed to the Official Receiver at the address above.

Q: I purchased my plot from Regents Land - do I still own my plot of land?

A: Yes, if you have completed your purchase you will be the registered owner of a plot of land. This is yours, and will remain so until you chose to sell it or otherwise hand it back.

However, Regents Land Investors may find that the planning prospects for the sites are different to what they were led to believe by UKLI sales teams.

Q: Will I have claims against UKLI?

A: Many of the Regents Land Investors we have spoken to describe how they believed that they were dealing with UKLI and not Regents Land. The Liquidators believe that Regents Land is owned and controlled by Mr Chohan, although he is not a statutory director.

Those creditors who attended the meeting on 24 June 2008 will be aware that the Liquidators proposed inviting the Court to determine whether or not UKLI was operating a "Collective Investment Scheme" (CIS) within the definition of FSMA, and if it was, whether creditors would have s.26 remedies (to return their land for a nominal dividend).

The Liquidators are also proposing to invite the Court to determine whether Regents Land Investors have potential claims against UKLI which may entitle them to lodge a claim as an unsecured creditor in UKLI's liquidation and ultimately receive a dividend based upon that claim.

Before this happens the Liquidators await further information from the FSA as to its position on Regents Land, and whether a formal legal process is required in respect of the admission of S26 claims.