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Post by debaharvey on Jun 2, 2012 14:45:10 GMT 1
THIS IS AN EMAIL SENT TO ME CONFIRMING THAT FAREPAK HAD NOT EVEN ORDERED THE VOUCHERS FOR CHRISTMAS 2006!! I HAVE REMOVED THE EMAIL ADDRESSES FOR OBVIOUS REASONS
From: Hannah Day
Date: 12 March 2012 09:32
Subject: Re: Farepak
Hi Deb,
We can confirm that Farepak did not place an order with Grass Roots for bonusbonds for their pre Christmas voucher order for Christmas 2006.
Thanks
Hannah
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Post by debaharvey on Jun 2, 2012 14:52:23 GMT 1
Deborah Davey is the one person that in my opinion slipped through the net. SHE WAS ON MATERNITY LEAVE WHICH IS WHY MARTHA THOMPSON BDO DID NOT CHASE HER AS SHE DID THE OTHER DIRECTORS
Deborah Claire Davey 28-JAN-1969 of Northend Cottage Henley on Thames Oxfordshire RG9 6LJ
COMPANIES SHE HAS BEEN INVOLVED WITH AND THE DATES
FROM 31-DEC-2005 - 17-JUL-2006
SHE WAS WITH THE FOLLOWING COMPANIES WHICH ARE EITHER DISSOLVED OR IN LIQUIDATION
Christmas Shopping Limited
Farepak Incentives Ltd
Scriptland Meats Ltd
Talk Turkey Ltd
EHR 12 Ltd
Farepak Hampers Ltd
EHR 14 Ltd
Neil McHugh Ltd
EHR 6 Ltd
EHR 17 Ltd
EHR 7 Ltd
EHR 18 Ltd
EHR 8 Ltd
Cyril's Hampers Ltd
Goodway Hampers ltd
European Home Shopping Ltd
European Direct Retail Ltd
European Retail Direct Ltd
Kleeneze Logistics Ltd
Macpreb Trustees Ltd
The Costume Jewellery Co Ltd
Online Shopping Services Ltd
Display Marketing Group Ltd
Westlea Farm Foods Ltd
Interfil Limited
Farepak Food and Gifts Ltd
Farepak Holdings Ltd
EHR 19 Ltd
Iwantoneofthose.comLtd
Iwantlotsofthose.comLtd
EHR 13 Ltd
Castlegate 105 Ltd
EHR 1 Ltd
EHR 16 Ltd
EHR 3 Ltd
EHR 11 Ltd
Farepak Mail Order Ltd
Pacmen Fulfilment Services Ltd
EHR 15 Ltd
EHR 2 Ltd
Keeneze Fulfilment Ltd
Kitbag Sports Ltd
Kitbag.com Ltd
PLEASE NOTE THAT SOME OF THE DATES WERE PRIOR 2005 BUT IN ALL CASES APART FROM THE FOLLOWING 1 WERE VACATED BY 17-JUL-2006
Davey Finance.................11-OCT-2007 - Present HOWEVER it is now listed as DISSOLVED.
In all cases she is listed as either CHARTED ACCOUNTANT/ DIRECTOR/ SECRETARY.
THE FOLLOWING IS CONCERNING CHRIS HULLAND
Christmas Shopping Limited. Farepak ETC this is the same list as the previous directors only in Hullands case he was gone by 31-DEC-2005
However his new venture is Chris Hulland Associates Limited ......20-JUN-2006 - PRESENT
which he is running with his wife. Now I totally get why he is also blamed by other third parties and to be fair I agree with them. BUT, If he has to shoulder some of the blame when the firm went under 10.5 months AFTER he left and Deborah Davey has not even been mentioned when she had only left the company 3 MONTHS BEFORE IT COLLAPSED?
I am only aware of her as right at the beginning I printed everything I could find on them including their home addresses.
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Post by debaharvey on Jun 2, 2012 14:56:53 GMT 1
Nicholas Gilodi-Johnson 31-JUL-1971 12B Perrymead Street London SW6 3SP
He is involved in the following companies. Again they are all defunct
COMPANIES DISSOLVED ON 20-APR-2007
Christmas Shopping Ltd.......................Director
Talk Turkey Ltd......................................Director
Farepak Investments.............................Director
Cyrils Hampers Ltd................................Director
Goodway Hampers Ltd..........................Director
Farepak Holdings Ltd.............................Director
Farepak Mail Order Ltd..........................Director
Interfil Ltd................................................Director
COMPANIES IN LIQUIDATION ON 16-OCT-2006
Home Farm Hampers Ltd.........................Director
HITA Ltd....................................................Director......13-OCT-2006
Kleeneze Logistics Ltd............................Director......27-APR-2006
Kleeneze Fulfilment Ltd...........................Director......27-APR-2006
Thats it for him and at present thankfully he is no in any other companies. That said his inheritance worth was worth £75 Million held in an off shore bank account. A nice little tax haven. As is commonly known his father BOB started the business and ironically he took the reigns after his dad died and pretty much left it for other people to run as he was a director in his own right but he couldn't direct traffic.He and his family live in a £1.5 Million home in Fulham he was paid £62,000 per year as a director but as a majority shareholder he was also paid £445,000!!
The whole lot of them are a joke, and if this was to happen today by Joe Bloggs he would be behind bars quicker than a flash and we all know it!!Farepak's collapse has been blamed on EHR's disastrous £35m purchase of book firm DMG in 2000, using borrowed money which it has never been able to pay back.Yet Gilodi-Johnson, his mother Bruna and sister Chiara continued to benefit from vast dividend payments after the DMG fiasco.Much of the money has been channelled into offshore trust funds, of which they are the beneficiaries, including a fund in the tax haven of Leichtenstein called CTX Treuhand AG.
Between 2000 and 2005 their complex web of funds was paid £6.7m, and as recently as March, just 5 months before shares were suspended, the family were paid an interim dividend of £300,000.In addition Gilodi-Johnson, 35, was paid an annual salary of £62,000, topped up with a £7,500 bonus in 2004.Even after the value of EHR's shares was wiped out, the family fortune is estimated at £15m. Gilodi-Johnson lives in a £1.5m house in Fulham, west London, with wife Vanessa, an investment banker.
His mother Bruna lives in a £3m mansion in Roehampton, west London, and the family also have a £3m villa in a hillside village near Olbia, Sardinia, where neighbours include fashion king Giorgio Armani. He also reportedly said at the time "The shares in the company my father built are now worthless, but I appreciate that is of no comfort to the tens of thousands of our customers whose Christmas hopes have been dashed by these terrible developments." You can actually hear the self-pity its pathetic.
Its a shame that he didn't feel so sorry about the families that were and still are affected by this. On 2 November Gilodi-Johnson bought his circle of friends £500 cases of Vintage Wine in fact in total he spent £1,856.28 on his order. That one case cost more than the avarage customer lost, its sick.
I have done another search on him and apparently he joined forces with Irfan Keshavjee and came up with KARIBU HOMES. He did this between 22 November 2006 through until 2008 He was obviously concerned about the Christmas he and the other oikes had taken.
I am moving onto Michael Mackelcan Johns as I am reliving this fiasco and its still really hard, the fact that they should have stood trial in a Court charged with fraud has absolutely baffled me
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Post by debaharvey on Jun 2, 2012 15:00:05 GMT 1
William Peter Rollason, DOB 29 November 1960 Last known address; 51 Perrymead Street London SW6 3SN
Business Appointments as follows;
Smile Restaurants Ltd 4 Hardman Square Manchester WENT INTO LIQUIDATION 17-FEB-2012. Previously called MASCO 16 Ltd name changed 14-Jul-2009. APPOINTMENT as Director 21-AUG-2009 UNTIL 04-AUG-2011 APPOINTMENT TERMINATED.
Jessops Ltd Jessop House Leicester. DECLARATION OF INSOLVENCY:LIQ 04-FEB-2010 2ND Notification in Gazzette sec 652
APPOINTED as Director 24-JUNE-2010 APPOINTMENT TERMINATED 26-APRIL-2011.
Snap Equity Ltd Jessop House Leicester. Previously called DWSCO 3000 Ltd.
APPOINTED as Director 15-OCT-2009 APPOINTMENT TERMINATED 15-JULY-2010.
Jessop Group Ltd Jessop House Leicester. Previously called Jessop of Leicester Ltd. Director Terminated 02-JUNE-2010.
Camera Mezz Jessop House Leicester. Previously called Intercede 1783 Ltd, Camera Mezz Ltd, Jessops Ltd.
Director Terminated 15-JULY-2010.
Camera Equity Ltd Jessop House Leicester. Previously called Ingleby (874)Ltd, Jessop International Ltd, Jessop Limited.
Director Terminated 15-JULY-2010.
Camera Bond Ltd Jessop House Leicester. Previously called Intercede 1804 Ltd Director Terminated 15-JULY-2010
Expert Imaging Ltd Jessop House Leicester. Previously called Cameras2u.com Ltd, Ever 1988 Ltd. Director Terminated
02-JUNE-2010 AND 03-JUNE-2010. ANNUAL RETURN OVERDUE AS OF 10TH FEBRUARY 2012.
Artificial Lift Ltd. 10 High Street Surrey. Previously called Performance Tools Ltd. Secretary Appointed 13-MAY-2008
Secretary Terminated 29-SEP-2010.
The Genuine Dining Co Ltd. Lakeside House Uxbridge. Previously called Yes Dining UK Ltd, Yes Dining (London) Ltd, Yes Dining Ltd.
Director Appointed 01-OCT-2010 Director Terminated 06-OCT-2011.
Real Inns Ltd. 8-10 Grosvenor Gardens London. Director Appointed 23-OCT-2010 Director Terminated 04-AUG-2011.
Paramount Acquisitions Ltd 4 Hardman Square Manchester IN LIQUIDATION AS 17-JAN-2012 Director Appointed 15-OCT-2010
Director Terminated 04-AUG-2011 & 04-AUG-2011.
Paramount Limited Hill House 1Little New Street London IN ADMINISTRATION AS 13-DEC-2011. Director Appointed 22-DEC-2010
Director Terminated 04-AUG-2011.
Groupe Chez Gerard Restaurants Ltd Hill House1 Little New Street London. Previously called Groupe Chez Gerard Ltd.
IN ADMINISTRATION AS 17-JAN-2012 Director Appointed 11-NOV-10 Director Terminated 04-AUG-2011.
Groupe Chez Gerard Ltd, 8-10 Grosvenor Gardens London. Director Appointed 22-DEC2010 Director Terminated 04-AUG-2011.
Paramount Restaurants Ltd Hill House 1 Little New Street London IN ADMINISTRATION AS 06-JAN-2012. Director Appointed 22-DEC-2010
Director Terminated 04-AUG-2011.
Livebait Restaurants Ltd. 8-10 Grosvenor Gardens London. Director Appointed 22-DEC-2010 Director Terminated 04-AUG-2011.
Caffe Uno Brasseries Ltd. Hill House 1 Little New Street London. IN ADMINISTRATION As 14-JAN-2012. Previously called
Gordon OP CO Ltd. Director Appointed. 11-NOV-2010 Director Terminated. 04-AUG-2011.
Paramount Holdings Ltd. 4 Hardman Square Manchester. IN ADMINISTRATION As 17-FEB-2012. Director Appointed 11-NOV-2010
Director Terminated 04-AUG-2011.
Craftbutton Ltd. Hill House 1 Little New Street London. IN ADMINISTRATION AS 11-FEB-2012. Director Appointed 11-NOV-2010
Director Terminated 04-AUG-2011.
Rykneld Tean (Holdings) Ltd. Hansard Gate Derbyshire. Previously called MAWLAW 458 Ltd. Particulars Changed 20-SEPT-2010
STILL A CURRENT DIRECTOR.
Bright Futures Group PLC. Ward House Surry. Previously called TFE Holdings PLC. Director Appointed 09-NOV-2010
STILL A CURRENT DIRECTOR.
The Glasshouse Project Ltd. 1 The Avenue Eastbourne. Previously called Stomper Management Ltd. Director Appointed 11-JAN-12
STILL A CURRENT DIRECTOR.
Genuine Food Company Ltd. Ward House Ward Road Surry. Director Appointed 17-MAY-2011
CHECK OUT WHY AFTER HAVING HIM AS A DIRECTOR FOR 10 MONTHS OR SO HE LEAVES THEN WITHIN 3 MONTHS THE FIRM IS IN RECEIVERSHIP/ADMINISTRATION IT CAN'T ALWAYS BE A COINCIDENCE!!
This man was also involved in other businesses in total he has been involved in 275 businesses. He was also linked to a firm called
'Cyrils Hampers' which was registered at Farepak House Westmead Drive Westlea Swindon. That in itself maybe nothing but as Farepak went bust and was taken over by BDO in 2006 and Cyrils Hampers didn't register as dissolved until 17-FEB-2009 2 years 4 months after Farepak went under. I find it a bit sus. Also ALL of the following firms are registered at Farepak House Swindon;
Farepak Incentives Ltd, Neil McHugh Ltd, Kleeneze Logistics Ltd, Christmas Shopping Ltd, Cyrils Hampers Ltd, Interfil Ltd,
Kleeneze Fulfilment Ltd, Scriptland Meats Ltd, Online Shopping Services Ltd, I want lots of those.com Ltd, I want one of those.com Ltd, Pacmen Fulfilment Services Ltd, European Direct Retail Ltd, European Retail Direct Ltd, European Home Shopping Ltd, EHR 15 Ltd.
Whilst he was in charge of the Chez Groupe of restaurants he used 10% of the STAFF TIPS to pay the staff Wages!! He couldn't see anything wrong with that.
up to now I have found 3 different Director ID numbers for him they are:
906735468
916012632
915453667
This maybe normal practise but I feel it is something that needs looking into.
In January 2006 Pricewaterhouse Coopers LLP were called in over the Choice Vouchers and they warned ALL Directors/Secretaries/Chairman/Deputy Chairman that unless they get their 'house in order' the firm will be in serious trouble. Guess they just ignored that piece of information. Oh the price of arrogance hey.
It was in 2003 that Rollason was hired to turn the company around and his salary was £290,000 per anum as chief executive of EHR, in addition to that figure in 2004 he also received a bonus of £75,000. He is a former investment banker who was 'mockingly dubbed the exceedingly modest Mr Rollason'. He initially ducked out of the spotlight but not before he hired London based 'Reputation management Consultant, Reputaioninc'. He lives in a £1.8Million home in Fulham and at the time of the Farepak collapse he was still a non-exec director of Jessops and a Chairman of Direct Selling Association. Rollason was obsessed with doing deals which was a key reason of the collapse of Farepak he hoovered up savers cash to spend on businesses that then failed to perform. It was crazy reckless and stupid. He always maintained that he wasn't a 'maverick', but he was exactly that as he gambled on investments that were never going to recoup the cash. EHR was previously known as Kleeneze and it was at that time that Rollason joined the firm after a career as an accountant with KPMG and as a banker with Hambros. He was Associate director of Carlton Communications and also Finance Director at National Express which he suddenly left after a clash with chief exec Phil White. He alleged that he left as whilst White was off ill he took charge and when White returned Rollason didn't want to give the reins back. So left!!
Rollason was being sued in Australia for negligence and a breach of director's duty resulting in the collapse of Bosnjak Holdings, part of National Express empire. SOUNDS FAMILIAR!!
It was when he arrived at Kleeneze that he was obsessed with deal making.He ditched book sales firm Direct Marketing Group, which the company paid £32Million for in 2000. He then sold it to PREMIER DIRECT for £4.1Million??? this was not surprisingly steeped in controversy. I have tried to get a connection with Rollason and Premier Direct but as yet I haven't found anything.Gillian Wilmot a former director of Royal Mail was brought in to look over DMG. After she reviewed the operation she proposed buying it herself with Kleeneze keeping 20%. But 24 hours before she was due to sign the deal which she thought was exclusive between her and Rollason he sold the lot to Premier Direct at a LOSS of a MASSIVE £28Million. Wilmot was rightly livid and then Rollason reportedly paid her a significant amount of money for reneging on the deal. She was still furious with him after this saying he was dishonourable, (like his friend Thompson), and that he failed his shareholders and employees.
He still went on to make more deals iwantoneofthose.com was bought for £6Million kitbag.com was bought for £7.2Million shopping channel ezeetv was bought. Then in the year ending April 2005 the firms recorded losses of nearly £900,000on top of that their was £300,000 start-up costs for the TV channel then for the 6 months ending November 2005 losses topped £1.7Million. Richard Ratner of Seymore Pierce said "Rollason was too egotistical and tried to do to much to soon. Rollason strongly defended his record saying every decision he had taken had been approved by the board. That included the sale of DMG. He did concede that iwantoneofthose.com had not delivered profits as quickly as he had hoped but they would prove profitable for new owners Findel.
I have all the paperwork with the information that I have supplied to you wish you can see if you wish. As I have previously stated we feel that Rollason, Gillis, Johnson and Thompson were the worst culprits HOWEVER they were ALL aware of what was going on and if they say they weren't then they were definitely UNFIT to carry out their duties as directors and as such they should have stood down.
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Post by debaharvey on Jun 2, 2012 15:05:01 GMT 1
Its the turn of Paul Munn, he has started quite a lot of business SINCE the Farepak fiasco. He has/is involved in 69 director/secretary positions.
Paul Munn JAN-1963 3a Dublin Meuse Edinburgh Midlothian Scotland EH3 6NW
The following are the businesses that this person is/was involved in;
Par Nomminees Ltd 3a Dublin Meuse Scotland Previously called Ensco 303 Director Appointed 08-MAR-2010
CURRENT POSITION ACTIVE
Par Innovation Fund I (General Partner) Ltd Exchange Tower Canning Street Midlothian Previously called Ensco 245 Ltd
Director Appointed 26-MAR-2009.
CURRENT POSITION ACTIVE.
Par Fund Management Ltd 3a Dublin Meuse Scotland Previously called Ensco 201 Ltd Director Appointed 02-MAR-2009
CURRENT POSITION ACTIVE
Morris and Munn Ltd 52 Inverleith Place Edinbrugh Previously called Dunwilco (1228) Ltd, Secretary Appointed 01-JAN-2009
COMPANY DISSOLVED 01-MAY-2010
Par Equity LLP 3a Dublin Meuse Scotland Non-Designated LLP Member 12-SEP-2008
CURRENT POSITION ACTIVE.
Morris and Munn Ltd 52 Inverleith Place Edinburgh Previously called Dunwilco (1228) Ltd, Director Appointed 01-JAN-2009
COMPANY DISSOLVED 01-MAY-2010
The Coul Partnership LLP 52 Inverleith Place Edinburgh Designated LLP Member 24-NOV-2004
CURRENT POSITION ACTIVE
Kinross Worsted Spinners Ltd Lochleven Mills Kinross Director Appointed 03-JAN-1998
COMPANY DISSOLVED 05-JAN-2001
Dil Engineering Ltd Lochleven Mills Kinross Director Appointed 03-JAN-1998
COMPANY DISSOLVED 05-JAN-2001
Dawson Consumer Products Limited c/o Joseph Dawson Ltd Beck Street West Yorkshire Director Appointed 03-JAN-1998
COMPANY DISSOLVED 09-JAN-2001
Dawson International Sports & Leisurewear Ltd Lochleven Mills Kinross Director Appointed 03-JAN-1998
COMPANY DISSOLVED 05-JAN-2001
J & J.c Dorward Ltd Lochleven Mills Kinross Director Appointed 03-JAN-1998
COMPANY DISSOLVED 05-JAN-2001
Dawson International United Brands Ltd Lochleven Mills Kinross Previously called W.Gladstone & Company Ltd
Director Appointed 03-JAN-1998
COMPANY DISSOLVED 18-JAN-2002
Di Dormant (No 1) Ltd c/o Joseph Dawson Ltd Beck Street West Yorkshire Director Appointed 03-JAN-1998
COMPANY DISSOLVED 16-JAN-2001
Signum Knitwear Ltd Cashmere Works Beck Street Bradford Director Appointed 03-JAN-1998
COMPANY DISSOLVED 09-JAN-2001
H.Wertheim Ltd Cashmere Works Beck Street Bradford Director Appointed 01-FEB-1997
COMPANY DISSOLVED 09-JAN-2001
Scarab Knitwear Ltd c/o Joseph Dawson Cashmere Works Beck Street Bradford Director Appointed 01-FEB-1997
COMPANY DISSOLVED 09-JAN-2001
Henry Ballantyne & Sons Ltd. Lochleven Mills Kinross Director Appointed 01-FEB-1997
COMPANY DISSOLVED 18-JAN-2002
Cashmere Cashmere Ltd Lochleven Mills Kinross Director Appointed 01-FEB-1997
COMPANY DISSOLVED 05-JAN-2001
The Scots Border Knitwear Company Ltd Lochleven Mills Kinross Director Appointed 01-FEB-1997
COMPANY DISSOLVED 05-JAN-2001
Afbrad Ltd Lochleven Mills Kinross Director Appointed 01-FEB-1997
COMPANY DISSOLVED 05-JAN-2001
System Framework Consulting Limited Whitehouse Road Cramond Edinburgh Director Appointed 12-AUG-1996
COMPANY DISSOLVED 27-NOV-1998
NO Jive Films Ltd 3 Landsdown Place Newcastle-Upon-Tyne Director Appointed 28-FEB-2011
CURRENT POSITION & ACTIVE
European Home Retail 7 More London Riverside London Director Appointed 20-NOV-2002
COMPANY IN LIQUIDATION
Brands In Media International Limited Cromer Street London Director Appointed 21-DEC-2011
CURRENT POSITION & ACTIVE
Qspine Limited Hedlines House Kettering Parkway Kettering Director Appointed 18-AUG-2011
CURRENT POSITION & ACTIVE
Par Advisers Limited 3a Dublin Meuse Edinburgh Director Appointed 01-APR-2011
CURRENT POSITION & ACTIVE
Par Equity Holdings Ltd 3a Dublin Meuse Edinburgh Director Appointed 01-APR-2011
CURRENT POSITION & ACTIVE
I have just completed a further search and it seems he has been a busy boy
Hermes Equity Ownership Services - Paul Munn Commercial Director as of 23 October 2008
Paul Munn was paid £20,000 consultancy fees fromFarepak. When the press tried to speak to him when the collapse first happenedhe sent his young son to see who was calling at his £3million house inEdinburgh. When he realised it was a reporter, he walked away. He should haveacted as Farepak's "chief watchdog" but he failed. He joined parentcompany European Home Retail as senior nonexecutive director. He claimed at thetime that the board made "strenuous efforts to stop the firmgoing bust. His controversial business past has angered us and many otherfamilies. When Munn quit as chief executive of Dawson International in 2002,the firm's losses had risen by £4.3million in a year - yet his salary rose by29% to £225,000, with an £87,000 bonus. The man as you can see from this listis still employed in 9 different firms in an executive role. Its absolutelydisgusting.
Munn has a Bachelor of Laws degree from the University of Glasgow and is a CharteredAccountant. He lives with his wife and two sons in Edinburgh.
Well ,well, well, I thought it wouldsurface at some point HE IS A CHARTERED ACCOUNTANT I may be wrong but isn’tthat part of the ‘self-regulating’ party!! Andrew I think together with the previous 3offenders, I am completely incensed that he is a ‘chartered accountant’, yetfailed to see the problems, failed to respond to the warnings, was his head sofar up his own backside? Maybe they were all just to arrogant to admit the companywas sunk. So why keep taking our cash? When I checked on the Kleeneze web page I found the following;
Appointed in 2002. Paul Munn is a director of Rockworth Capital Partners Limited and prior to that was previously Chief Executive of Dawson International PLC. He is a Member of the Chartered Institute of Management Accountants and has previous experience with Mars Confectionery, Price Waterhouse and BUPA
Now I am astounded as Price Waterhouse were called in to oversee the Choice gift voucher and the Agents were given clear promises that the 'new & improved' voucher BonusBond was bigger and better. However, PWC made no secret of the fact that if Farepak/EHR did not clean up their act then the company was in serious trouble. So given his back ground and the fact that he was part of PWC at some point, I am at a loss for words. It all points to one big con trick. Dupe the customers take the cash dump the company at the last possible moment. This is only my opinion
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Post by debaharvey on Jun 2, 2012 15:09:57 GMT 1
THE WONDERFUL CLIVE THOMPSON NEXT
The following is the details of Clive Thompson and his involvement with Farepak and EHR also his involvement with William Rollason. In total he has had 60 director positions but these are the ones that have either folded whilst he was a director or they are still current.
Sir Clive Thompson 04- April -1943 of Quarry Dean Wilderderness Avenue Seven Oaks Kent TN15 OEA.
Business Positions are as follows;
Barslondon Ltd 28 Lavender Sweep London. Secretary Appointed 26-MAR-2009
COMPANY SECRETARY STILL CURRENT & ACTIVE
Barslondon Ltd 28 Lavender Sweep London. Director Appointed 16-APR-2003
COMPANY DIRECTOR STILL CURRENT & ACTIVE
Strategic Equity Capital PLC. Beaufort House Exeter. Deputy Chairman Appointed 01-JUL-2005
COMPANY DEPUTY CHAIRMAN STILL CURRENT & ACTIVE
Storm Financial Ltd Quarry Dean Wilderness Avenue Kent. Director Appointed 26-MAR-2003
COMPANY DIRECTOR STILL CURRENT & ACTIVE
Storm Financial Ltd Quarry Dean Wilderness Avenue Kent Secretary Appointed 26-MAR-2003
COMPANY SECRETARY STILL CURRENT & ACTIVE
Sixxx Records Ltd Quarry Dean Wilderness Avenue Kent Director Appointed 26-MAR-2003
COMPANY DIRECTOR STILL CURRENT & ACTIVE
Sixxx Records Ltd Quarry Dean Wilderness Avenue Kent Secretary Appointed 26-MAR-2003
COMPANY SECRETARY STILL CURRENT & ACTIVE
Rentokil Pension Ltd. Felcourt East Grinstead W.Sussex. Director Appointed 25-MAY-1992
COMPANY DISSOLVED WHILST STILL A DIRECTOR
Michael Boulton Ltd Felcourt East Grinstead W.Sussex Director Appointed 25-MAY-1992
COMPANY DISSOLVED WHILST STILL A DIRECTOR
European Home Retail PLC 7 More London Riverside London Director Appointed 04-DEC-1991
COMPANY IN LIQUIDATION WHILST STILL A DIRECTOR
Farepak Mail Order Ltd c/o BDO Kings Wharf Reading. Director Appointed 18-JAN-1989
COMPANY DISSOLVED WHILST STILL A DIRECTOR.
Now to start with at Strategic Equity Capital Clive Thompson also has £3Million in 'ordinary shares' in addition to his more than generous salary. As you can see from the dates above the fact remains that Farepak sinking with £40Million of savers cash has not affected this man in any way. He has gone on to live his life as normal he is still commanding swollen salaries and perks. Thompson is Deputy Chairman of Strategic Equity Capital and he is also on the Industry Advisory Panel at SEC.!! That is unreal especially given as to how he 'ran' EHR and Farepak the man simply couldn't run a bath.The Accountancy Investigation & Discipline Board (AIDB) which governs more than 200,000 accountants investigated the conduct of 'certain members' over the preparation of Farepak's accounts for the year to April 30 2005. The AIDB have said that Ernst & Young which audited Farepak and EHR accounts for the year to April 30 2005 is not under investigation.Thompson was known as 'Mr 20%' because of the profits of his company Rentokil Initial rose that much year on year. Little comfort to Farepak savers who lost nearly £40 Million. Thompson was the only current board member of EHR who was a director during the disastrous DMG buyout yet he was still paid £600,000 in consultancy fees!! He was Knighted for his services to industry at the end of John Major's government. It would be funny if it wasn't true. After much research at the time of the collapse Thompson was a member of the Committee on Corporate Governance (Hempal Committee) a member of the CBI Presidents Committee CBI Finance and General Purposes Committee and the CBI National Council. He was a non-executive director of BAT Industries Plc and Sainsbury Plc and was Vice-Chairman of Farepak PLC. We have also found that it has emerged that some of the directors to blame for Farepak's demise will have their huge pensions underwritten by the Government's recently-introduced Pensions Protection Fund, which will help make up the estimated £500,000 shortfall in the Farepak company pension. So in short after we lost all our money to these unscrupulous people our taxes can now go towards their pensions!!! And I am asked why I cannot let this go? My goodness the deeper you dig the worse it gets.
There was a boardroom coup to oust Thompson from the chair at Rentokil. The incoming chairman Brian McGowan described Thompson as arrogant. It was in Thompson's opinion an unwarranted and unrestrained attack and he was deeply offended. There were also suggestions that he was a control freak and inflexible he would like the public to think that his career came to a juddering halt when Farepak collapsed alongside EHR BUT IN REALITY IT HAS NOT MADE A GREAT DEAL OF DIFFERENCE.He did spend a year 'resting' and playing golf!!
The one business he has from his own home address called 'SIXXX RECORDS' is an ACTIVE business but only has £10 in it and its value is only £10??? we feel that there is a more sinister reason but we cannot throw allegations out without proof but you don't really need to be a brain surgeon to work it out.
When Thompson's departure from Rentokil it was only a month AFTER he sold most of his stock in the company he had built collecting £9.25 Million ($16.3Million) by selling 5 million shares which at the time they were averaging 185 pence or $3.27 it makes one wonder if he was more than a little aware of what was to come as only a few days later the share price fell to 140.5 pence representing a 71% decline from the peak of 482.25 in early 1999. Thompson spent as much time as possible spouting to anyone who would listen that HBOS was entirely to blame for the demise of EHR and Farepak. He has never been that far away from controversy. When he was the new CBI President he famously took the mic and in his hard line speech he trampled over established CBI policies and dismissed the third way in front of the official guest Tony Blair. He then insulted labour representatives by asserting that statutory union recognition should be put in the handbook to help firms improve their pest control techniques. John Monk then general secretary of the TUC remembered the occasion "Oh yes I had everyone from the CBI coming over after dinner and apologising for Thompson's speech." "It was meant to be tongue in cheek but Thompson always had an aggressive style of delivery that separated him from the old-school types who used to make up the CBI" added Monks.
In conclusion Thompson cannot pass the blame to anyone else, he is equally to blame as much as Rollason. They are intertwined with such deviousness it beggars belief.
Deb
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Post by debaharvey on Jun 2, 2012 15:16:09 GMT 1
Here is the next director Sorry for the length of these emails but as you can appreciate their is an awful lot to get through.this one has been involved in 99 businesses!
Neil Duncan Gillis January 1965 of Lodge Farm High Street Thelnetham Diss Norfolk IP22 1JL
Businesses that this character has been involved with are as follows;
The Outdoor Group Ltd, St James Square Manchester Director Appointed 13-OCT-2009 (particulars changed) AGAIN 16-OCT-2009(particulars changed)
Director Terminated 11-AUG-2011 Previously known as The outdoor Group (TRADING)Ltd, The Outdoor Group Ltd, Millets Leisure Limited.
COMPANY IN ADMINISTRATION AS OF 17 FEBRUARY 2012.
Blacks Leisure Group PLC 440-450 Cobb Drive Northamptonshire. Director Appointed 20-NOV-2007 (particulars changed) on 13-OCT-2009 Director Terminated 11-AUG-2011
COMPANY IN ADMINISTRATION AS OF 18 FEBRUARY 2012.
The Rosetta Trust 15 Whiting Street Suffolk. Director Appointed 15-FEB-2007
COMPANY STILL ACTIVE & CURRENT.
Barn Elms Health Club 10 Crown Place London. Director Appointed 19-NOV-2007
COMPANY DISSOLVED WHILST ACTIVE DIRECTOR.
Suffolk Wine Company Limited 15 Whiting Street Suffolk. Director Appointed 17-JUL2002
COMPANY DISSOLVED WHILST ACTIVE DIRECTOR.
Neil Gillis Limited 15 Whiting Street Suffolk. THIS COMPANY IS SET UP AND RUN BY 2 FEMALE RELATIONS OF NEIL GILLIS HOW CONVENIENT
COMPANY CURRENT AND ACTIVE.
European Home Retail Plc. 7 More London Riverside London. Director Appointed 15-AUG-2003
COMPANY IN LIQUIDATION WHILST ACTIVE DIRECTOR.
This man lives in a stunning 17th Century thatched house in the village of Thelnetham. It is estimated to be worth £1.25Million set in 20 acres of land with its own vineyard!! He was paid £20,000 per year in fees and he was a non-executive director. Again its the same pattern as the previous characters given that some of the current businesses are now in the wife's/partners name, this in addition to the amount of businesses listed at the same addresses and OK its not illegal its not unheard of HOWEVER it is nothing short of disgusting when you see the affluent lifestyle these people are living and yet BDO feared taking the case all the way to the Courts as they "might not be able to afford to pay any more than what they have given." 5 of the directors gave a combined total of £4Million that equates to £800,000 each! AND we still have not been told which directors it was as at the INSISTENCE OF THE DIRECTORS THE SETTLEMENT WILL REMAIN CONFIDENTIAL AND NO FURTHER COMMENTS WILL BE MADE. So they get what they insist upon, yet we and 116,400 other customers INSIST ON A FULL REFUND and we are told that actually there isn't even a case for them to answer???
Most shockingly for us is the fact that Gillis was Chief Executive of ESPORTA HEALTH CLUBS.......A GOING CONCERN THAT HE SOLD FOR £460MILLION TO PROPERTY TYCOON SIMON HALABI IN NOVEMBER 2006............Farepak went under owing £40Million in October 2006 right at this moment I feel sick.
He is quoted as saying
"I tend to like doing these things [turnarounds] for a relatively short period of time. Most of my roles have been three to four years so I don't ever see myself staying at any one company for a long period of time. That is just not me."
OTHER NOTEABLE BUSINESSES THAT HE HAS BEEN INVOLVED IN ARE AS FOLLOWS: bE ADVISED THAT THIS INFORMATION WAS FOUND IN 2006/2007 AND AS SUCH SOME OF THE POSITIONS ARE NOW CLOSED.
Mr. Neil Duncan Gillis is the Chief Executive, Executive Director of Blacks Leisure Group PLC. He joined the Board in November 2007 as Chief Executive. Prior to this he held a number of senior positions in consumer-facing businesses including Chief Executive of Esporta Health Clubs Limited from 2003 to 2007, Chairman of Duchy Originals, Managing Director of the Greene King plc Pub Company and Managing Director of Linda McCartney Foods
Chief Executive, Executive Director of BSLA.L, Since 2007
It really beggars belief that even after doing all this he also sells his wine to local restaurants.
He should be thoroughly ashamed that he didn't hold his hands up and say OK we have messed up big time I have a deal going through we can at the very least give 50% of the cash back to the savers. They disgust me more than I could ever tell you. ALL the directors HAD TO HAVE KNOWLEDGE OF WHAT WAS GOING ON THEREFORE THEY ARE ALL TO BLAME!!
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Post by debaharvey on Jun 2, 2012 15:22:06 GMT 1
Michael Stephen Mackelcan Johns October 1943 22 Bowerdean Street London SW6 3TW
This individual is involved with 84 companies from 1991- Present they include mostly defunct companies I am not going to list them all suffice to say that Johns isn't a very outstanding director.
European Home Retail Plc 28-SEP-2005 - 08-NOV-2006
Also included are
Gravitas
Ngj Services......This has me puzzled it is The provision of staff for the requirements of K&L Gates LLP. The abbreviations NGJ = Nick Gilodi-Johnson??
Openstat Ltd
X-Zone Ltd
The THJ Foundation
Kirkpatrick and Lockheart Ltd
Are just a few that are listed as defunct but the fact that most of the directors are in excess of 20-30 businesses and yet they still carry on it really should be illegal its so outrageous.
Anyhow their isn't much to say about him except he is the chosen solicitor firm for Clive Thompson, himself (obviously), and one other non-exec director.
Just the time line left
In January the Choice Voucher was called into account.
In February the 'all new bonusbond voucher' was being peddled
EHR issued a low-key profit warning on 23 March predicting a small loss for the year ending 30 April 2006
On June 30 2006 EHR make announcement that as a result of placing Choice Voucher into Administration it would need to borrow more but its trading position remained as on 23 March
Then on 23 August it requested that its shares be suspended while it negotiated a new financial deal with lenders but 'insisted' it was still trading in line with expectations!!!
Farepak continued to take payments from Agents & Customers until it announced it had ceased trading on 13 October 2006! 12 weeks after it knew the extent of the problems. They still got their pay check and bonuses as in all honesty that is exactly what they were waiting for...
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Post by debaharvey on Jun 2, 2012 15:28:42 GMT 1
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 6, 2012 22:51:56 GMT 1
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Post by nickd on Jun 7, 2012 22:12:35 GMT 1
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Post by debaharvey on Jun 10, 2012 13:01:40 GMT 1
JUST HAD THIS FROM DALTON PHILLIPS CEO OF MORRISON'S SUPERMARKETS........................STILL REFUSING TO PROTECT YOUR SAVINGS IT IS OUTRAGEOUS HOW THEY THINK THAT WE ARE ALL OK WITH THIS.
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Post by debaharvey on Jun 10, 2012 18:38:05 GMT 1
HI ALL, I AM AN IDIOT I THOUGHT THE POST HAD THE LETTER ATTACHED!! SORRY Attachments:
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 10, 2012 20:22:39 GMT 1
"It is worth pointing out that the vast majority of the money we borrow is provided by banks and bondholders without us providing any security, which shows that these institutes see us as a strong place to invest their money" WORDS THAT MIGHT COME BACK TO HAUNT MR PHILIPS  |
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 20, 2012 19:17:21 GMT 1
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 20, 2012 22:07:52 GMT 1
PRESS RELEASE FOR IMMEDIATE RELEASE:
We at the Farepak Victims Committee are disgusted at the handling and the farce that this Court Case has ended up. Both myself and Louise McDaid are outraged that we the victims of this fiasco are paying, not only for BDO to sort out the mess that these unscrupulous Directors and Chairman have left in their wake, but now it seems that we may very well be hit with another £1 Million in Court costs.
At October 2011 the fees accrued by BDO topped £8.2 Million, the ‘creditors committee’, which is made up of 5 people, have agreed for Martha Thompson of BDO to continue to look for further funds, this of course will mean further charges. I asked Ms Thompson if the fees have topped £10 Million yet and her reply was ‘I cannot give you any figures as I only do this on a yearly basis, therefore your next statement will be October 2012’. If BDO cannot gain any extra funds from more third parties then the extra costs accrued will come out of the creditor’s kitty. Now we are to believe that a further £1 Million may be charged by the Court. As there is only £5.2 Million left in the kitty we feel sure that somehow someone will managed to ‘accrue charges’ to wipe out what’s left.
We have insisted from the outset that the only way to protect savers of these schemes is to achieve regulations that protect the consumer NOT the millionaire director. We have called on the Government to make tighter regulations and we will not stop lobbying until this is achieved.
We are also outraged at our savings being referred to as ‘Doris money’.
Vince Cable has said he felt "huge" sympathy for "those who lost out" and would reflect on the decision by the Insolvency Service - which is part of his department. Well Mr Cable your ‘huge sympathy’ will not refund our savings nor will it serve any purpose for the 116,400 customers, not forgetting of course the heartbreak for the 207 families whose loved ones died waiting for this to be resolved, it’s a double kick in the teeth.
However there is ONE THING YOU CAN DO MR CABLE.......Deborah Harvey and Louise McDaid are issuing a challenge to Vince Cable and this Coalition Government to use this fiasco as a lesson learnt and to ‘make amends‘ for the shoddy treatment suffered by the victims of this case and that is Please meet with us AND discuss BRINGING IN NEW LEGISLATION TO PROTECT ALL FUTURE SAVINGS, ITS UP TO YOU MR CABLE, CONTACT US PLEASE AND LETS TURN THIS INTO A POSITIVE ENDING.
Debs Harvey & Louise McDaid
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 21, 2012 20:37:21 GMT 1
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 22, 2012 21:58:57 GMT 1
Hi EVERYONE Both myself and Louise have been hammering away in the background working on EVERYONES behalf concerning Supermarkets. As we get anything we update you and put the letters here for you all to see. Well we are not there yet however we are one step closer. Since the 3rd May 2012 we have been in contact with The Co-Operative. Martyn Wates CEO of Specialist Business, called me on the phone and arranged a conference call with himself, Mr Waqas Butt Specialist Business and 2 other executives to mr Wates and Mr Butt. I thrashed out what myself and Louise feel is the way forward they went away promising to call back a few days later. As it turned out it was a few HOURS later when they said they would be interested in doing something with us and they wanted to thrash out the best way forward. Another 2 conference calls later and we had this today: Deborah, As discussed our position is that we are looking in detail at how The Co-operative could offer support and protection for consumers, but at this stage we are unable to make a firm commitment. The Co-operative is therefore happy to be quoted to that effect should you think it appropriate. We will be in touch next week to update you further on the work we are doing internally into this area. Many thanks Waqas Specialist Businesses Waqas ButtBusiness Development Director 12th FloorNew Century House Corporation Street M60 4ES WE ARE WELL AWARE IT IS STILL NOT A YES, HOWEVER THEY HAVE GIVEN THE GREEN LIGHT TO GO PUBLIC WITH THIS AND TO BE HONEST NO-ONE HAS EVER GOT THIS FAR WITH ANY PROTECTION SCHEME, SO YAY GO US AND GO TEAM WHOOHOO XXXX  |
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Post by nickd on Jun 23, 2012 19:51:35 GMT 1
Hi Louise, please check you messages?
Regards
Nick
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 27, 2012 22:32:31 GMT 1
The Farepak Victims Committee had written to Vince Cable requesting a meeting to discuss the collapse of the Directors Disqualification Court Case. The Insolvency Department has informed us that Mr Cable will meet - date/time is currently being discussed. We will of course keep everyone posted.
Louise McDaid Deborah Harvey
Chair Secretary
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jun 28, 2012 17:57:04 GMT 1
Meeting with Vince Cable has been confirmed - date is the 12th July at 12noon. Louise McDaid and Deborah Harvey will be attending. We of course will keep everyone posted.
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Post by sandfacer on Jul 8, 2012 14:27:02 GMT 1
could maybe some good news regarding supermarket soon  |
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jul 10, 2012 19:19:41 GMT 1
FAREPAK VICTIMS COMMITTEE CALL FOR AN INQUIRY INTO THE ADMINISTRATION/LIQUIDATION OF FAREPAK
Hi Folks I'm going to let you see two e-mails one which Debs and I sent to Martha Thompson on behalf of the Farepak Victims Committee on the 26th June 2012 - just after the collapse of the Directors Disqualification Court Case. I will first print ours then Martha Thompsons response.
From: JAMES MCDAID Sent: Tuesday, June 26, 2012
To: Martha Thompson
Cc: Jessica MORDEN CLARK, Katy Deborah Harvey
... Subject: FAREPAK
Dear Ms Thompson,
Given the collapse of the Insolvency Department's case against the former European Home Retail/Farepak Directors, I would be grateful if you could please provide the following information:
(a) The Administration/Liquidation fee as of October 2011 is currently £8.2M. Can you please let me know if the fee has been subject to any aspect of the Directors Disqualification court case and how much that is? I understand that the Joint Liquidators prepared information for the Insolvency Department.
(b) One of the reasons given by yourselves as to why the dividend could not be paid out to the Unsecured Creditors was that the (2.7) "Committee has asked me to continue working towards taking legal proceedings against other parties". As a consequence of the collapse of the Directors Disqualification case can you confirm if these legal proceedings will still go ahead?
Thanking you in advance for your assistance with this matter.
Yours faithfully,
Louise McDaid Deborah Harvey
Chair Secretary
FAREPAK VICTIMS COMMITTEE
This is the response from Martha Thompson
Dear Louise
Farepak Food & Gifts Limited – In Creditors’ Voluntary Liquidation (“Farepak”)
...
I write further to your email below.
£8.2m is the total of the payments made in the Administration and Liquidation of Farepak to the date of my last report to all creditors, which includes all fees and costs. Payments include the costs of a claims management team so that former Farepak customers could make claims for the money they had lost, legal fees, and the costs of running the Farepak business for a period of approximately three months, which resulted in the recovery of significant monies which has increased the estimated dividend for the benefit of creditors.
With respect to the investigation conducted by the Government’s Department for Business, Innovation and Skills, the Joint Liquidators have had no involvement with this other than to cooperate fully with the Government’s requests for information. I can confirm that no Liquidators’ fees have been charged in respect of the time spent cooperating with the Government.
The Liquidation Committee has asked the Joint Liquidators to work towards taking legal proceedings against third parties to try to recover more money for the benefit of the creditors of Farepak, including agents and customers. Because this may lead to legal action, I am unable to provide any further information at this time.
Yours sincerely
For and on behalf of
Farepak Food & Gifts Limited
Martha H Thompson
Joint Liquidator
The purpose of showing these e-mails is as follows - it is our intention to call for an Inquiry into the Administration/Liquidation of Farepak. For years BDO have told us that they could not pay out our money as they were working "towards taking legal proceedings against third parties to try to recover more money for the benefit of the creditors of Farepak, including agents and customers" and only 12 days ago Ms Thompson repeated that point. We have been charged £8.2M in Admin/Liquidation fees up until Oct 2011 and I'm sure we will in due course be told what this years fees are! What we do know is that Oct 2011 statement from BDO we were told that we would receive a payment in the region of 15p/£ today we are being told it will be £13p/£. WHAT HAS CHANGED in 12 days?
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louise1mcdaid
Junior Member
Chair - Farepak Victims Committee
Posts: 50
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Post by louise1mcdaid on Jul 12, 2012 23:59:53 GMT 1
First item to be discussed at todays meeting was the collapse of the Directors Court Case.
Mr Roy Martin QC - Former Dean of the Faculty of Advocates has worked with the Farepak Victims Committee over the years. He produced a Joint Note which we handed to Mr Cable - hopefully we will get answers soon.
JOINT NOTE BY COUNSEL
for
Mrs Louise McDaid on behalf of the Farepak Victims Committee
Re: Collapse of Farepak Food and Gifts Limited _____________________________________________________________________
1.We refer to the request by email from Mrs Louise McDaid who is the Chair of the Farepak Victims Committee.
2.As the members of the Committee are aware, on 20 June 2012, the Secretary of State for Business, Innovation and Skills discontinued his action brought in the High Court in London for disqualification of the Farepak directors. The next day, the judge, Mr Justice Peter Smith, issued a statement. He did so in order to explain why the “defendants are in my view right to be vindicated and, second, to explain to the depositors what actually happened with their monies” (paragraph 28).
3.The judge describes the case made by the Secretary of State as a challenging one because the Secretary of State did not attempt to say that liquidation was inevitable before October 2006. Nor did he say that the directors’ decision to seek a solvent solution was the wrong one (paragraph 103). Instead, he attempted to show that a solvent solution was possible but that the directors were at fault in not achieving it. However, the evidence led suggested that the directors had done what they could to achieve it: “they made genuine strenuous efforts to save the group and the depositors” (paragraph 20); “They did everything, as far as I can see, possible to save the group” (paragraph 119).
4.The judge is critical of the way in which the case was conducted. In essence, the reason he concludes that the failure of the case was inevitable is that the witnesses all said that “they had no criticisms of the defendants’ conduct in the relevant period” (paragraph 72). Their affidavits did not properly reflect their views on the directors’ conduct but had been “unfairly slanted” against the directors (paragraph 48).
5.In the latter part of his statement (paragraphs 77 to 128), Mr Justice Peter Smith analyses why the company failed. He is clearly critical of the Bank of Scotland, although he points out that legally they were entitled to do what they did (e.g. paragraphs 95, 118, 120). He suggests that further bank funding of £3 - £5 million would probably have saved the group but that the bank were not prepared to provide that funding (paragraphs 118). It would appear that a funding gap of £5 million arose initially in December 2005 when the group’s facilities were renegotiated (paragraphs 81 to 82). The judge appears to be most critical of the Bank having “in effect forced the directors” (paragraph 116) to continue trading in the period September and October 2006 when it had formed the view that insolvency was inevitable and that it had become their preferred option. During those two months, £10 million of deposits was received all of which (paragraphs 22 to 23 and 116 to 117) went to the benefit of the Bank – £4 million in reducing the group’s indebtedness and £6 million used in the other companies in the group which were sold in a pre-pack administration deal.
6.Earlier in that passage, he describes the way in which Farepak carried on business, which involved the use of the deposits to fund the other parts of their business (paragraph 79). He says that only Mr Johnson of Park was critical of that approach. The money was swept into the accounts of other group companies, reducing those companies borrowings and therefore interest charges.
7.We have been asked in the light of that statement what questions might be put to the Secretary of State. Some possible lines of enquiry are as follows:
Was the case brought against the directors on the wrong basis (paragraph 71: “This is clearly unfair to the defendants, because the wrong case is being presented against them”)?
Why was a case run on the basis that the directors were at fault when the witnesses did not support that position (paragraphs 72 and 76)?
Does the Secretary of State accept the judge’s conclusion that the directors were not to blame for the failure of the company (e.g. paragraph 125: “What is missing from the story is any justified complaint against these defendants”)?
Why was the case not better prepared? In particular, why had it not been understood before trial what the witnesses’ position was on the critical issue, the responsibility of the directors for the failure of the company?
Does the Secretary of State accept that there was fault on his part or on the part of the Department in the way in which they chose to present the case?
Were the following particular complaints against the directors considered and rejected:
(a)seeking to achieve a solvent solution and therefore trading on and continuing to take deposits in the hope that that would prove possible;
(b)not telling the bank in December 2005 that the group’s funding was £5 million short;
(c)not ring-fencing the deposits taken after April 2006, or at least the deposits taken in September and October 2006 (i.e. using the deposits to fund its businesses: paragraphs 79ff and 116)?
If these complaints were considered, can the Secretary of State explain why these points were rejected as part of the action against the directors?
Does the Secretary of State intend to call on the Bank of Scotland for a further substantial contribution to the victims fund?
Does the Secretary of State consider that he has any power to compel the Bank to make such a contribution?
Will the Secretary of State make transcripts of the evidence available (or pay for transcription)?
Will the Secretary of State release the Insolvency Service report on the directors, or the liquidators’ report to the Insolvency Service?
8.We understand that the meeting with the Secretary of State is on 12 July 2012. If the Victims Committee wishes to discuss any of these matters beforehand, we should be happy to hear from them.
Roy Martin Q.C. Christopher Wilson
Advocates’ Library
Parliament House
Edinburgh EH1 1RF
9th July 2012
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Post by debaharvey on Jul 15, 2012 20:30:48 GMT 1
I’VE BEEN LOOKING THROUGH MY PAPERWORK AND I HAVE FOUND THE 2 PAGE RECEIPTS FROM THE ADMINISTRATION & LIQUIDATION THESE COVER FROM 13TH OCTOBER 2006 – 3RD OCTOBER 2011
ADMINISTRATION COSTS AS FOLLOWS:
RECEIPTS 13TH October 2006 – 28th September 2007
THESE TOTALLED £6,721,572
PAYMENTS 13TH October 2006 – 28th September 2007
THESE TOTALLED £2,715,339
PAYMENTS TO PREFERENTIAL CREDITORS £7,087
ADDED TOGETHER PAYMENTS TOTALLED £2,722,426
THAT LEFT £3,999,146 TO CARRY OVER TO LIQUIDATION.
LIQUIDATION COSTS AS FOLLOWS:
THIS WAS 6 DAYS LATER AND INCLUDED IN THIS WAS £3,784,589 TRANSFERRED FROM ADMINISTRATION?? THAT WAS £214,557 LESS THAN THE PREVIOUS RECEIPT DATED JUST 6 DAYS EARLIER!
RECEIPTS 4th October 2007 – 3rd October 2011
THESE TOTALLED £10,974,995 THIS INCLUDES THE ADMIN KITTY AND £4M FROM DIRECTORS OUT OF COURT SETTLEMENT WITH NO ADMITTANCE OF LIABILITY.
PAYMENTS THESE TOTALLED £5,494,554
PREFFERENTIAL CREDITORS £5,989
THIS TOTALLED £5,500,543
THAT LEFT £5,474,452 IN THE KITTY FOR AN APPROX DIVIDEND TO CREDITORS.
NOW IF YOU TAKE INTO ACCOUNT THE FACT THAT WE ARE YET TO HAVE BDO’s FINAL BILL THE FOLLOWING IS AN ESTIMATE OF THIS YEARS BILL WHICH NEEDS TO BE TAKEN INTO ACCOUNT
TAKE THE APPROXIMATE DIVIDEND OF 13P FOR EACH £ LOST WHICH WAS APPROX £38 MILLION SO THAT’S 0.13 X 38,000,000 = £4,940,000 A MASSIVE £560,543 LESS THAN OCTOBER 2011.
I WOULD PLEASE LIKE TO STATE THAT THE 13P DIVIDEND IS APPROXIMATELY WHICH MEANS IT CAN STILL GO UP AND IT CAN STILL GO DOWN. IT IS NOT A DEFINATE SUM. SO IN OUR RECKONINGS THE LIQUIDATORS HAVE EARNED APPROX £ 9 MILLION AND US THE CREDITORS HAVE A DIVIDEND FROM BDO OF 0.13p IN THE £. WE ESTIMATE THAT AS £3,999,146 WAS ALREADY THERE BACK IN 2006, ALL BDO HAVE ACTUALLY GOT FOR US IS APPROX £940,854 ABOUT 10% OF WHAT THEY HAVE CHARGED. THIS IS OUR OPPINION AND WE ARE FREE TO MAKE IT ON THE PAPERWORK WE HOLD. IN THE PAST WHEN WE HAVE QUESTIONED MARTHA THOMPSON OF BDO WHY IT WAS TAKING SO LONG AND SHE TOLD US ‘THE CREDITORS COMMITTEE CAN AT ANY TIME ASK ME TO STOP THE WORK I AM DOING AND BRING THE LIQUIDATION TO AN END, AT WHICH TIME I WOULD MAKE A PAYMENT TO CREDITORS.
AS I HAVE STATED THIS IS OUR OPPINION GIVEN THE PAPERWORK WE HAVE RECEIVED, HOWEVER WE WILL ENDEAVOUR TO CALL FOR AN INQUIREY INTO THE WAY FAREPAK HAS BEEN HANDLED BY BDO AND THE INSOLVENCY DEPARTMENT.
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Post by debaharvey on Jul 20, 2012 16:12:40 GMT 1
WE SENT MARTHA THOMPSON AN EMAIL ASKING HER TO CLARIFY A FEW POINTS THIS IS WHAT WE SENT AND WHAT WE RECEIVED BY WAY OF AN ANSWER. WE HAVE ALSO ASKED FOR THE EXACT NUMBER OF DEATHS THAT SHE HAS RECORDED WILL KEEP YOU UPDATED WITH ANY RESPONSES
Dear Ms Thomson,
On going over the statements you have sent on a yearly basis you said in October 2011 "I have agreed the claims of 116,439 Agent & Customers totaling £37 Million. Then on the update 17th July 2012 you state "Joint Liquidators will aim to make payments to 114,000 Agent & Customers during September.That is a difference of 2,439 Agents/Customers. Could you explain why their is such a difference between the two figures please. Whilst we appreciate that their are sadly a lot of deaths to be taken into account, we certainly hope that this figure is not the tally of deaths of Farepak Agents/Customers. We are at a loss as to why there is such a difference in the figures. Also what is the total amount lost is it £37 Million as you stated in October or is it £38.2 Million as previously stated. Also since the collapse of Farepak you have stated to keep the costs down you would only contact Agents once a year and it was up to the Agent to inform their customers, which was fair enough. So why are you now sending the cheques t individual people? based on .47p stamp times that by 114,000 = £54,708 given the cheques will be made payable to each person surely they could be sent to the Agent for the Agent to distribute, as you have said you are trying to keep the costs at a minimum.
I phoned the claims department today and asked why their was such a big difference in the figures and she said she couldn't answer me and if I wanted that sort of information then it had to be put in writing and someone would get back to me.
If you would confirm the answers to these questions and get back to us asap we would be very grateful.
Kind Regards
Deb Harvey & Louise McDaid
Secretary & Chair
Farepak Victims Committee
Dear Debbie
Throughout the course of the Administration and Liquidation I have been working to agree the claims of customers and agents. As you will be aware, Farepak did not have records of who each customer was. I therefore set up a claims management team so that each customer could send in a claim for the amount they were owed by Farepak. By the end of the Administration, I had received over 122,000 customer and agent claims. The total of these was approximately £38.1 million. Since that time I have worked with the claims management team to remove duplicate claims and claims where the customer has received a refund, for example from their credit card company. Following this work, there are approximately 114,000 customer and agent claims remaining on the database. These claims total approximately £37.0 million. I can confirm that if a Farepak agent or customer has died this does not have an effect on the number of claims because the dividend payment will be paid to their next of kin. For the next of kin to claim the payment, they would need to write to the claims management team and provide a copy of the death certificate. I can confirm that it is not necessary for original certificates to be sent in. The law that sets out how Liquidations must be run states that each individual creditor (which in this case means each customer and agent as well as other creditors such as trade suppliers) must be sent a dividend payment. This means that by law I have to post the cheques to each customer rather than sending them to the agents. Yours sincerely
For and on behalf of
Farepak Food & Gifts Limited
Martha H Thompson
Joint Liquidator
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Post by debaharvey on Aug 25, 2012 18:54:57 GMT 1
PRESS RELEASE
FROM
FAREPAK VICTIMS COMMITTEE
Christmas is just around the corner and ALL the supermarkets will be touting their Christmas savings schemes along with ‘deals’ to save us money! Please be careful and take note that not one single supermarket protect your Christmas savings. You take all the risks and the supermarkets take all the benefits. We have letters from tesco, asda, morrissons, sainsburys, all refusing to protect our cash with morrissons saying it costs too much for them to implement it. Farepak victims committee are taking this fight directly to government as not one single pre-paid scheme is regulated from a Christmas saving stamp through to a funeral plan it is disgraceful the way that the public are treated with such disregard. All we want is fair play; if we give any business our money then we should have full protection as standard. We do not take unnecessary risks with our savings so why should they. Please print this press release as we are all unaware of the total lack of regulation surrounding the pre-paid industry. A popular pre-paid voucher scheme took more than £54 million last year and not one penny of it was protected. We have had enough it stops and it stops now.
Debbie Harvey & louise mcdaid
Secretary & chair farepak victims committee
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Post by debaharvey on Oct 6, 2012 11:54:07 GMT 1
Dear Martha,
As we have seen by your update today on the Farepak Website, the cheques are at present being processed and as such a lot have to be processed it will be a further 2-3 weeks before this has been achieved.
As you are aware Martha, both myself and Louise McDaid have been very vocal about Farepak and we have done everything we could think of to stop this kind of loss ever happening again. We appreciate that you are 'doing a job', and that the Creditors Committee were telling you to keep looking for more funds, however would you not agree that SIX YEARS is a ludicrous amount of time to take in resolving this fiasco? Do you not agree that realistically this should have taken no longer than 12 - 18 months from beginning to end? Surely the 5 people you had on the Creditors Committee were being naive in not realising that your costs were exceeding any possible dividend? Was it ever explained to them that for Every Day that you and you team were working on Farepak it was costing ALL OF US?
As we are now at the end Martha will you please give us the exact cost of this saga from 13 October 2006 - 13th October 2012 the Administration and the Liquidation and just so everyone is clear how much did you raise in total for the creditors including agents and customers, and more over how much was the final dividend to be paid from BDO DO NOT ADD THE EX-GRATIA AWARD FROM THE BANK just give us the figures that you raised was it 13p or has it gone down further again or perhaps it rose slightly. The £8M from the bank equates to 19p so added to your figures and please do not say approximately Martha because there is no need anymore this is the end of the line so please give us the answers to the questions we have been trying to get answered for the last 6 years. I think we deserve that much at the very least and I would like to think that you agree.
Kind Regards
Deb & Louise
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Post by debaharvey on Oct 6, 2012 11:57:16 GMT 1
PLEASE EVERYONE READ THE TERMS & CONDITIONS ESPECIALLY NUMBER 15 OF THE FIRST SET OF TERMS AS WAT THEY ARE SAYING IS IF YOU WERE TO LOSE YOUR CARD AND SOMEONE GETS HOLD OF IT BEFORE YOU HAVE REPORTED IT MISSING THEN THEY WILL ONLY HONOUR THE LAST TRANSACTION WHICH = YOU LOST YOUR CARD, I SAW YOU DROP IT, I PICK IT UP AND GO INTO THE STORE AND SPEND WHATEVER CASH YOU HAD SAVED ON IT, IN THE MEANTIME YOU GET HOME AND REALISE YOUR CARD HAS GONE......YOU PHONE THE HOTLINE AND THEY SAY WELL I AM SORRY BUT THE LAST RECORDED TRANSACTION WAS TODAY WHEN YOU SPENT IT ALL..........WHICH LEAVES YOU OUT OF POCKET...............ALSO IF THE COMPUTER FAILS AS IT DID IN NATWEST BANK ................THEY WILL NOT BE RESPONSIBLE IF YOUR CASH HAS BEEN WIPED OUT..........JUST BE VERY VERY VERY CAREFUL PLEASE, SAVE YOUR CASH.........ITS YOURS.........DONT LET SOME FACELESS SUIT WORK OUT HOW TO TAKE IT FROM YOU m.iceland.co.uk/bonus-card/ |
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Post by debaharvey on Oct 6, 2012 12:15:12 GMT 1
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