FSA wins High Court battle against land banks

The regulator secured a winding up order of Plott UK, which will now be liquidated. Plott collected £3.9m from investors between May 2009 and April 2011, promising returns of up to 300%. This is despite one of its units being a designated area of "outstanding natural beauty" unlikely to ever receive planning permission. In a separate hearing, the High Court granted a world-wide freezing and restraint order against European Property Investments (EPI). The FSA believes the EPI is a phoenix of Plott, formed when FSA action against Plott began. EPI owned two of the sites promoted...