Notice - Winding up - The Wine Investment Fund Limited (2023-03-06)

Summary

This is a public notice from the Bermuda Monetary Authority announcing that it successfully petitioned the Supreme Court of Bermuda to wind up The Wine Investment Fund Limited, a Standard Fund authorised in 2008, under the Investment Funds Act 2006 and the Companies Act 1981. Joint provisional liquidators were appointed in February 2023 and a winding-up order was issued on 3 March 2023, continuing their appointment as liquidators.

• Reason for action: The Authority cited repeated and serious breaches of the Investment Funds Act 2006, including failure to file audited financial statements for fiscal years 2016 to 2022, failure to appoint an independent custodian, imprudent conduct impairing fund assets (including an impermissible loan to a related party), and failure to update the Offering Document as instructed.
• Liquidators appointed: Michael Morrison and Charles Thresh of Teneo (Bermuda) Limited were appointed joint provisional liquidators and their appointment was continued upon the winding-up order.
• Fund principals named: Director Rodney Birrell and fund adviser Anpero Capital Management (directed by Birrell and Andrew della Casa, both UK-based) are identified in connection with the breaches.
• Contact for enquiries: Parties with questions about the Fund or the liquidation are directed to contact the named joint provisional liquidators via the email addresses provided.

This notice is informational and documents a completed regulatory and court action; it does not itself impose new ongoing compliance obligations on other regulated entities, though it illustrates the Authority's enforcement approach to breaches of fund governance, custody, and disclosure requirements.

Applies to

investment funds, standard funds, fund administrators, fund directors, fund advisers