A group of landbanking companies that sold sites where "there was no prospect of planning permission being obtained" has been would wound up in the public interest following an investigation by the Insolvency Service.

Cheltenham-based Land International and three subsidiaries, all controlled by Michael John Morris, 60, and Stephen Nicholas Meissner, 45, began trading in early 2004 when they bought greenbelt land. It was subdivided into plots of around a tenth of an acre which were sold to some 700 investors, pulling in an estimated £10m.

(Via The Guardian. To read the full story, click here)


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