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Post by optymystic on Jun 15, 2023 16:50:35 GMT
It is very simple really, MV CHP always was a subsidy farming operation. Some of the pie charts showed a the greater part of revenue coming from subsidy. Once the subsidy failed to materialise it was down hill all the way. In defence of subsidy farming we might point out that it is perfectly normal for electricity generation, though it was taken to extremes in Northern Ireland where nothing was generated in 'Cash for Ash'.
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tw
New Member
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Post by tw on Jun 18, 2023 19:29:53 GMT
Q?: Am I reading this correctly? From the last statement
"As the CVA failed, the amount we owe you reverts back to the full £4.40 million of secured Debentures under the terms of the original Debenture Deed and security package."
Does this mean our shares revert back to the original debentures i.e. those which were converted to valueless shares go back to having a claim on whatever assets are left over? Or (more fool me) I am still being far too optimistic about getting anything back on this one? Ta
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Post by optymystic on Oct 11, 2023 14:28:59 GMT
Dropped by again this afternoon to find significant signs of activity. All the fans were in operation, though the smell of pine was notably absent and space had been cleared at the rear for loading activity with a digger parked up outside. It looks as if the wood chip supplying operation is back up and running under the aegis of Biosol Renewables which does that kind of thing. There was also a certain amount of engineering assembly/disassembly going on, which made me wonder if the electricity generating plant isn't being removed or broken up for parts.
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beh
Member of DD Central
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Post by beh on Nov 17, 2023 18:04:29 GMT
"after fees related to the company’s administration and related sale process, there is expected to be nothing left"
Quelle surprise.
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archer
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Post by archer on Nov 17, 2023 18:13:56 GMT
Another gem - "The Sector backdrop was not favorable" Of course, because running an energy business when prices were absolutely ballooning was terrible timing. Awful excuses with this one from the beginning - it was ofcom's fault, then the suppliers fault, then "the market" (  ?!) and now the banks. Completely lost trust in Abundance. Buyer beware. |
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beh
Member of DD Central
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Post by beh on Nov 17, 2023 18:36:01 GMT
I think I would have preferred the option to destroy the remaining assets somehow. The return would still have been zero but at least I would have gotten a small amount of satisfaction from denying the liquidators some fees.
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Post by peer2beer on Nov 17, 2023 19:51:33 GMT
I am interested in how we can use the loss to offset capital gains - it's something I guess (unless you held in an ISA, then you get nothing).
Does anyone know how the ner total loss is made offical so that we can have the hmrc take pity on us?
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Post by optymystic on Nov 19, 2023 11:18:09 GMT
Another gem - "The Sector backdrop was not favorable" Of course, because running an energy business when prices were absolutely ballooning was terrible timing. Awful excuses with this one from the beginning - it was ofcom's fault, then the suppliers fault, then "the market" ( ?!) and now the banks. Completely lost trust in Abundance. Buyer beware. This always was a subsidy farming operation, one of the original pie charts showed that most anticipated revenue was to come from subsidies and when they didn't transpire this business was knackered. My grievance against Abundance is that there has been an abysmal lack of communication. There were two sets of debentures in this nest of companies trading between one another with common directors. In the absence of any disclosure by the companies or Abundance, I remain very skeptical that the two sets of debenture owners were treated equitably or fairly.
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Post by optymystic on May 22, 2024 14:52:44 GMT
My new improved Ab****ce web site now shows me two different derisory sums, which must stem from my M********** V******* investment because I had no other. One is inside the ISA in which the debentures were held the other outside it. For how many more years can Ab****ce persist with this fiction?
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?!) and now the banks.