UK cargo shipping in limbo ahead of expected liquidation

HDI Global Specialty filed a winding up petition against Cargo Marine International Insurance Consultants, a specialist marine intermediary, according to filings in the High Court of England and Wales.

A winding up petition is a court proceeding seeking an order to put a company into compulsory liquidation.

The petitioner typically makes allegations that the company is not able to pay its debts owed to it.

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Other grounds can apply under insolvency law, however.

Based in Abingdon, Cargo Marine International Insurance Consultants was incorporated in 1998.

But in November 2023, the Financial Conduct Authority (FCA) cancelled Cargo Marine International Insurance Consultants’ authorisation to conduct regulated insurance-distribution activities.

This decision was due to the firm’s apparent inactivity and repeated failure to submit mandatory regulatory information or respond to FCA notices.

Following this, its Part 4A permission was cancelled with immediate effect, preventing it from legally conducting any FCA-regulated activities, including advising on investments and arranging insurance-related investment transactions.

The FCA noted the company had not submitted required returns between November 2019 and April 2023.

These included half-yearly retail-mediation activity and complaints returns, as well as its Firm Details Attestation, which is used to confirm or update the core information held by the regulator.

The notice did not allege consumer harm, misconduct, fraud or poor advice; instead, it focused on regulatory non-reporting, non-engagement, and apparent inactivity.

Despite these developments, the company’s status remains listed as active on Companies House.

The firm made a confirmation statement on July 16, 2025, with no updates.

Micro company accounts for 2024 were also published in the same month.