Much has been said about UK Agora’s involvement regarding the liquidation of APW Asset Management (formally known as Australian Portfolio Wines). This article intends to explain and clarify what has been reported.
In 2014 UK Agora became aware that a number of existing clients held wine investment positions with APW. We advised these clients to move their wines into a private account which allowed UK Agora to assist them in the resale of their wines. This was the full extent of our involvement until more recently.
When a Liquidator was appointed they initially proposed that the wines be returned back to investors, much to the relief of applicable clients. Then an alternative option was proposed, a mass-sale back to the wine producers. UK Agora encouraged Australian wine creditors to talk with each other. This communication allowed them to trade thoughts and determine what the best course of action would be. Roy Double, a UK Agora client and APW creditor stepped forward with the intention of gaining control of his wines as initially proposed as he felt some wines owned held significant value and genuine investment potential.
At the hearing the Chief Registrar was not prepared to over-ride creditors’ rights to their own stock and directed the Liquidators to return the wines to creditors once the relevant fees had been paid
UK Agora advises wine investors to store within a private account thus enabling access to sell through channels such as; auction, private collectors or wine merchants independently and rejects the false claims that say otherwise. When we sell on behalf of clients only the agreed cases are released directly to the buyer, enabling a further layer of security. We state this clearly as it has the opposite has been published.
UK Agora continues to work with Australian wine investors. Our outlook is simple. Liquidation of low tier wines, which are normally held in high volume, and the retention of genuine super premium collections. The emphasis on removing storage costs which eat into profits.
Our success is largely down to the efforts of our Australian wine brokers who now make up our dedicated Australian wine sale team. Their knowledge of this niche market has helped UK Agora sell over 10,000 bottles of Australian wine, of which none have been “fire-sold”. Our continuation in the building of this department ensures a pipeline of consistent sale opportunities in the future.
To distort UK Agora’s input as anything other than positive and necessary is a distraction from the fact that our determination has led to what our clients consider a great triumph, the return of their investment. We wish all investors the best and wish to remind them that UK Agora’s services are easily utilised. For inquiries: 0203 595 3910.
We also wish to point out that anything can be written on public forums under an assumed aliases regardless of the factual correctness of the statement. UK Agora wishes to nullify these claims once and for all. UK Agora will continue to deliver the best possible service for our clients. Wine owners who work with UK Agora do so with the intention of seeking out the best possible resale price for their fine wine investment.