In 2015 a company named APW Asset Management (which previously traded as Australian Portfolio Wines) went into administration.
UK Agora wouldn’t normally interfere in such matters. However, it became apparent that a number of clients held investments with the company in question. When it was initially proposed that all ex-APW client’s wines would be fire sold, we were naturally concerned. It was decided that the best course of action for our clients was to form their own committee which would argue in favour of the wines being returned to their rightful owners.
The committee consisted of UK Agora clients who were also ex-Australian wine investors. This allowed the parties involved to form a platform to gather and exchange information. Their ultimate goal was to take back control of the wines they had purchased.
We are pleased to announce that on the 22nd of February a judge ruled in the interests of the clients and set timescales for the wines to be returned to their owners.
We continue to liaise with the head of the committee and aim to keep all affected clients up-to-date.
We recognise that our involvement has been misinterpreted by some sources as negative. UK Agora believes our involvement in the process was necessary as the ruling now benefits our clients.