kaya
Member of DD Central
Posts: 1,150 
Likes: 718
|
Post by kaya on Jun 6, 2015 10:00:38 GMT
Anyone got this one? It is in default, with the borrower having claimed to have ceased trading, yet a google search will reveal a website which is apparently trading as normal ( import and sales of 'fixings').
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Loan 5481
Jun 6, 2015 10:47:50 GMT
via mobile
Post by fasty on Jun 6, 2015 10:47:50 GMT
Unfortunately I'm also exposed to this one. The borrowers web site may still be there, however I suspect it hasn't been updated for ages; checkout probably wouldn't work; it feels abandoned.
|
|
dp
Member of DD Central
Posts: 189
Likes: 84
|
Post by dp on Jun 15, 2015 10:39:46 GMT
Claim to have ceased trading. If you call them up then they answer and presume are still taking orders?
|
|
dp
Member of DD Central
Posts: 189
Likes: 84
|
Post by dp on Jun 16, 2015 11:20:12 GMT
Its as though they read this post and thought, lets give them a call.
16th June Update " On 1 June we contacted the business and discovered that it was trading and there were orders coming in. A few days later we spoke to the sole director of the company about how the loan would be repaid. We were informed that she needed to speak with the other parts of the management team and would revert. We chased the director last week, and continue to seek to establish a payment plan. Ultimately, if we do not get a payment plan in place in the next 3-4 weeks we will need to take action against the company with a view to winding it up."
|
|
|
|
Post by goldservice on Jun 16, 2015 11:41:39 GMT
I suppose it wouldn't work if this company had defaulted on £x of your loan to them, and you then bought £x of goods from them, and then you didn't pay their invoice? Must be tempting!
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jun 16, 2015 12:01:52 GMT
Ultimately, if we do not get a payment plan in place in the next 3-4 weeks we will need to take action against the company with a view to winding it up."
Never mind 3-4 weeks ( to remove all assets and cook their books etc). They should be told one week to get up to date with payments or an immediate winding up procedure will follow without further notice!!
edit: Are there arrangements for recalling full repayment of the whole loan in situations like this? Breaking contract - or something, follwed by CCJ etc?
|
|
dp
Member of DD Central
Posts: 189
Likes: 84
|
Post by dp on Jun 16, 2015 13:19:11 GMT
The business is 6 months behind with payments. I also agree why give them 3-4 weeks to reply and give even more lies.
FC need to check their communication.
The guarantor sent them a letter claiming they had ceased trading - did anyone actually check? FC Panel of insolvency practitioners have reviewed the bankruptcy assets? Is this actually true? Considering the business continues to trade.
Clearly some one is pulling the wool here and FC appear to have taken what the lender and guarantor have said on face value.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Jun 16, 2015 13:51:48 GMT
Oh!! It seems I sold up at +1.3% in December. I bet the purchaser was cursing me if they went belly up the next month. I can't see the details now. Failing Checkups won't let me.
I wonder why no one has raised hell on the "other" place. Maybe Fibrous Chinstubble has moderated it away.
|
|
mikeb
Posts: 1,072
Likes: 472
|
Post by mikeb on Jun 17, 2015 17:44:37 GMT
Clearly some one is pulling the wool here and FC appear to have taken what the lender and guarantor have said on face value. It can happen. Anyone remember the one where the guarantor "sadly passed away" around March 2013 ... only to recover later and suddenly become cooperative (and somewhat alive) again in December 2013? It was a Christmas Miracle. Now, let us sing loan hymn number 495 "Oh what a profitable growing company". Would it be insensitive to say "Sorry for your loss, can we have a copy of the Death Certificate ... ?"
|
|
dp
Member of DD Central
Posts: 189
Likes: 84
|
Post by dp on Jan 8, 2016 9:12:48 GMT
Latest update on loan: Very slow action from FC - disappointing
06 Jan 2016
We have prevented the borrower from being dissolved and have instead placed the company into compulsory liquidation. We are currently in the process of having one of our external insolvency panel firms appointed as Liquidator in order to carry out a thorough investigation into the history of the company to determine whether any wrongdoing or claims against third parties can be established. This will be a lengthy investigation and we do no envisage any significant developments in the short term. We will therefore endeavour to report to creditors in 3 months time, or sooner if developments allow. As previously advised the sole guarantor was made bankrupt so any realisations (which currently looks unlikely) will come from these investigations.
|
|
