- Four companies have been shut down after investigations
revealed they were connected to a scheme which helped directors
sell struggling businesses for £1 while keeping assets and
dropping debts
- The scheme's operators failed to preserve accounting records
or assess what had happened to the more than £18 million in
combined assets of 75 companies they acquired
- This latest action by the Insolvency Service follows previous
enforcement sanctions against companies and directors involved in
the Atherton scheme
Four companies linked to a scheme which risks undermining
insolvency legislation have been shut down.
Atherton Corporate Partners LLP, Jones & Harlington Ltd, TYA
GRP Ltd and TYA Two GRP Ltd formed part of the Atherton scheme,
which allowed business owners to keep their assets and drop their
debts.
More than £18 million in previously held assets were identified
by the Insolvency Service from 75 companies which were sold to
Jones & Harlington Ltd, TYA GRP Ltd and TYA Two GRP Ltd.
Atherton Corporate Partners LLP, Jones & Harlington Ltd and
TYA GRP Ltd were wound-up at the High Court in London on Tuesday
17 February.
TYA Two GRP Ltd was wound-up at the Court of Session in Edinburgh
on Friday 16 January.
Atherton Corporate UK (Ltd), now known as POC Ventures Limited,
and Atherton Corporate Rescue Limited, now known as QRG
Consulting Ltd, were among seven companies shut down in August
2024 following investigations into the scheme by the Insolvency
Service.
Dave Magrath, Director of Investigation and Enforcement Services
at the Insolvency Service, said:
Our previous investigations into the Atherton companies found
that they made false promises to struggling business owners,
telling them they could walk away from their debts with a ‘clean
break'.
The directors who took control of these distressed companies
failed to do what any responsible director should – they did not
preserve records, protect assets, or take steps to act in the
best interests of creditors.
When companies sidestep proper insolvency processes, it's often
small businesses and suppliers who lose out alongside HM Revenue
and Customs. These are taxpayers and people who did work or
provided goods in good faith and never got paid.
The insolvency system exists to ensure debts are dealt with
fairly and schemes like this undermine that protection for
everyone.
Shares in the companies in financial distress were transferred to
Jones & Harlington Ltd or TYA GRP Ltd or TYA Two GRP Ltd for
just £1. These companies took on the liabilities but received no
assets.
Once the sale was complete, the original directors resigned.
Directors of Jones & Harlington Ltd, TYA GRP Ltd and TYA Two
GRP Ltd received payments from Atherton in exchange for taking on
directorship of the newly acquired businesses.
The sole director of Jones & Harlington Ltd was Karen
Mortimer, who was disqualified as a company
director for seven years in October 2025 for her role in the
Atherton scheme.
Mortimer, 68, put the creditors of 138 companies at risk of
financial loss after taking control of the businesses which were
referred to them by Atherton Corporate UK (Ltd) and Atherton
Corporate Rescue Limited.
She was also one of the former members of Atherton Corporate
Partners LLP along with Neville Taylor, described as a “key
figure” in the scheme when he was disqualified as a
company director for nine years in January 2025.
Insolvency Service investigations revealed that Taylor, 58, was
paid more than a quarter of a million pounds by Atherton
Corporate (UK) Ltd to become the sole director of more than 400
companies.
The Official Receiver has been appointed as liquidator of
Atherton Corporate Partners LLP, Jones & Harlington Ltd, and
TYA GRP Ltd.
Stuart Preston and Julie Tait of Grant Thornton UK Advisory &
Tax LLP have been appointed as joint liquidators of TYA Two GRP
Ltd.
All enquiries concerning the affairs of Atherton Corporate
Partners LLP, Jones & Harlington Ltd, and TYA GRP Ltd should
be made to the Official Receiver of the Public Interest Unit:
16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ.
piu@insolvency.gov.uk.
All enquiries concerning the affairs of TYA Two GRP Ltd should be
made to Grant Thornton UK Advisory & Tax LLP, 120 Bothwell
Street, Glasgow, G2 7JS. cmusupport@uk.gt.com.
Further information
