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Published:  23 July, 2008

By Jim Budd

David Jackson, the general manager of Goldman Williams, and Mark Blackburn, one of its brokers, have set up a new wine investment company, Bordelais & Dutch Ltd. They are currently offering 1986 Mouton for 3,110, which can be bought for 2,300 from Corney & Barrow. (Three years ago Corney & Barrow was selling this for 2,200, so this represents a rise of just 4.5%.) Bordelais & Dutch was set up on 23 January 2002 and changed its name from Castillon Ltd on 26 February. The company trades from Trafalgar House, 11-12 Waterloo Place, London SW1Y 4AU. Morgan Chantel, another claret investment company, is also at this address. Goldman Williams was wound up in the public interest' on 16 January 2002. In a High Court judgement on 10 December 2001, the company was found to be carrying on a business in a manner designed deliberately and dishonestly to mislead the public'. The court was told that 2.2 million had left Goldman Williams and City Vintners in the relatively short period since they began trading, and had been sent overseas to associated individuals and companies, and that the companies' accounting records did not give an adequate explanation of those payments. Furthermore, the amounts were so substantial that it is probable that they far exceeded the value of the consideration given. Despite the High Court judgement there is no requirement on Blackburn and Jackson to show that they are fit and proper people to offer investment advice. They are free to set up new wine investment companies.