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Date Posted: 19:25:00 01/23/02 Wed
Author: dave
Subject: Re: Anyone got any news from the meeting today (wednesday 23rd)?? (NT)
In reply to: Brian 's message, "Anyone got any news from the meeting today (wednesday 23rd)?? (NT)" on 15:55:21 01/23/02 Wed

around 150 people turned up, as did the two Directors. they initially stated that they would not comment, however perhaps due to a combination of guilt and arrogance, Brian (the son) answered a range of questions. unfortunately Dad had a bout of selective amnesia when it came to some of the details. what is clear is that they had no records of accounts - depite paying each other £100,000.00 per year and their wives £400 per month?.
the liquidator was a decent person and very early on i suspect realised that this Company had traded from mid 2001 in troubled waters taking many thousands of ££'s from decent people. the unanswered question is 'where has this money gone?'
questions around the assets of the Directors produced answers which indicated that they were mortgaged up to the hilt and had no savings - poor people!
what appeared to be clear was that most if not all ex employees were in the dark about the trading status of the company and were as shocked as the other creditors to find out some of the details.
i am not certain that all creditors have been identified and at this stage there appears to be debts of over £800,000. some chance of getting your money back.
on a positive note a number of good people agreed to form a Creditors Committe to assist the Liquidators - they included professional people and an ex Fraud squad Detective. i believe that they will have eveyones interests at heart.
like most cases some are much worse than others and we heard of people possibly losing their homes to a disabled chap who brought his brother along to act on his behalf. i hope that the Directors are pleased with themselves

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