John Wright Posted July 7, 2019 Share Posted July 7, 2019 14 minutes ago, LightBulb said: I see in the Manx Independant, the liquidator is contacting previous customers ( around 500 of them ) who haven`t paid thier bills, ( around £100,000 apparently ) and says the garage may be for sale, ( but not as a going concern, presumably because it has been closed for so long ), surely if the liquidator wanted to get as much back as he could, why has he waited for 11 years, the business must now be worth next to nothing now, or am i wrong about that? Yes, you’re wrong. It’s only been in liquidation for 18 months. Link to comment Share on other sites More sharing options...
Max Power Posted July 7, 2019 Share Posted July 7, 2019 17 minutes ago, LightBulb said: I see in the Manx Independant, the liquidator is contacting previous customers ( around 500 of them ) who haven`t paid thier bills, ( around £100,000 apparently ) and says the garage may be for sale, ( but not as a going concern, presumably because it has been closed for so long ), surely if the liquidator wanted to get as much back as he could, why has he waited for 11 years, the business must now be worth next to nothing now, or am i wrong about that? 1 minute ago, John Wright said: Yes, you’re wrong. It’s only been in liquidation for 18 months. Pretty poor debtor control, those who haven't paid their bills are partly responsible for it closing down I would suggest? Link to comment Share on other sites More sharing options...
finlo Posted July 7, 2019 Share Posted July 7, 2019 6 minutes ago, John Wright said: Yes, you’re wrong. It’s only been in liquidation for 18 months. There was something in the paper about the liquidators wanting ex customers to prove they'd paid their bills going that far back! Link to comment Share on other sites More sharing options...
thesultanofsheight Posted July 7, 2019 Share Posted July 7, 2019 3 minutes ago, finlo said: There was something in the paper about the liquidators wanting ex customers to prove they'd paid their bills going that far back! Apparently their books and records are so appalling they are asking people to show proof that they paid where they are shown as debtors. Who keeps records going back 11 years to prove they paid for a service on their car if the garage can’t prove it did receive the money and issue a receipt? Link to comment Share on other sites More sharing options...
LightBulb Posted July 7, 2019 Share Posted July 7, 2019 44 minutes ago, John Wright said: Yes, you’re wrong. It’s only been in liquidation for 18 months. It has been closed down for longer than that i think John. Link to comment Share on other sites More sharing options...
John Wright Posted July 7, 2019 Share Posted July 7, 2019 November 2017, court order was late October. https://www.judgments.im/content/J1950.htm Link to comment Share on other sites More sharing options...
Rog Posted July 7, 2019 Share Posted July 7, 2019 Whatever happened about Kaupthing Singer & Friedlander Limited? Did it get opened with a slightly different name and what happened about getting money back for the depositors who got skinned? Or are those questions that should not be asked? Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted July 7, 2019 Share Posted July 7, 2019 24 minutes ago, Rog said: Whatever happened about Kaupthing Singer & Friedlander Limited? Did it get opened with a slightly different name and what happened about getting money back for the depositors who got skinned? Or are those questions that should not be asked? Jeez. If you don't know how to use the internet or can't be arsed reading the 38 updates from the KSF liquidator then yes, I guess they're questions that you should not ask. Link to comment Share on other sites More sharing options...
Rog Posted July 7, 2019 Share Posted July 7, 2019 8 minutes ago, Bobbie Bobster said: Jeez. If you don't know how to use the internet or can't be arsed reading the 38 updates from the KSF liquidator then yes, I guess they're questions that you should not ask. There's updates - and there's what's actually happening on the ground. I still retain enough manxness to know that. Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted July 7, 2019 Share Posted July 7, 2019 28 minutes ago, Rog said: There's updates - and there's what's actually happening on the ground. I still retain enough manxness to know that. Against my better judgement I've given you the link to salve your ignorance. Not really worth my time responding any further to this trolling so I'm out. Link to comment Share on other sites More sharing options...
TheTeapot Posted July 7, 2019 Share Posted July 7, 2019 1 hour ago, Rog said: Whatever happened about Kaupthing Singer & Friedlander Limited? Did it get opened with a slightly different name and what happened about getting money back for the depositors who got skinned? Or are those questions that should not be asked? More to the point, whatever happened to 'bellyup'? Link to comment Share on other sites More sharing options...
John Wright Posted July 7, 2019 Share Posted July 7, 2019 1 hour ago, Rog said: Whatever happened about Kaupthing Singer & Friedlander Limited? Did it get opened with a slightly different name and what happened about getting money back for the depositors who got skinned? Or are those questions that should not be asked? No, it didn’t reopen, under any name. Yes, all the depositors got all their money back. Yes, government got all the money it advanced under the Depositors Protection Scheme back. However, lots of money was lost, the liquidation costs and the government costs in staying the liquidation and trying to arrange a fire sale of the loan book. If it had done that the creditors/depositors wouldn’t have got repaid in full. Link to comment Share on other sites More sharing options...
WTF Posted July 7, 2019 Share Posted July 7, 2019 if the ray motors books are that bad i would expect the taxman to be getting the lions share of any owed monies. Link to comment Share on other sites More sharing options...
hissingsid Posted July 7, 2019 Share Posted July 7, 2019 If I remember correctly it was a family dispute that caused the closure. Link to comment Share on other sites More sharing options...
Mr Helmut Fromage Posted July 7, 2019 Share Posted July 7, 2019 8 minutes ago, WTF said: if the ray motors books are that bad i would expect the taxman to be getting the lions share of any owed monies. Essentially it's a family dispute in the Casement Family about whom is the greediest twat - everything is paid for but bitterness and greed with family malice plus stubbornness will spend the cash on legal fees....... Link to comment Share on other sites More sharing options...
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