The Charity Commission has petitioned the High Court for an order to wind up Thrift Urban Housing Limited after investigating “unmanaged conflicts of interest”.
The regulator opened a statutory inquiry into the charity in August 2014, but said that for “various operational reasons” it was unable to announce it had done so until now.
Its inquiry has been investigating serious regulatory concerns about the charity’s “unmanaged conflicts of interest and private benefit”.
London-based Thrift Urban Housing, which provides services to elderly and disabled people, recorded no income in its past three years.
The Commission said it considers it in the public interest for the charity to be ordered to wind up so it has applied to the High Court to do this.
A public notice of the Commission’s application has been published in the London Gazette. Thrift Urban Housing Limited will have the opportunity to respond to this petition.
The court will consider whether to appoint an official receiver who, if appointed, would be responsible for applying any remaining assets as part of the winding up of the charity.
The Commission’s inquiry continues and it intends to publish a report, setting out its findings and conclusions in due course.