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post #21 of 23 (permalink) Old 16-06-2010, 21:18
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The original post was informative in that it did eventually make clear excactly what the position was as regards that business.

It then became a general discussion as to the way directors can evade their companies debts and then just spring up five minutes later with a so called clean sheet leaving suppliers and employess high and dry without a paddle being unsecured.

Of course the dear old Revenue make sure they dont loose out as being preferential creditors.

Its strange to me that with 'Phoenix companies' the same Directors can then buy the assets at a no doubt knock down price and if they are using their own money why didn't they be honourable and put the cash back in the business in the first place to pay suppliers and keep the business going in an honourable way.

I think it is totally wrong that people who have made a pigs ear of running a business are just allowed to start up again. Those business's should be put on the open market for ANYONE interested to be able to bid for them and not just done behind closed doors.

These comments are my own personal view and in no way are comments on the business in receivership but a comment in general.

Peter
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post #22 of 23 (permalink) Old 16-06-2010, 21:21
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Originally Posted by jettdt
Not sure what you mean? I have no interest beyond the reply I put on the other post. I will take back the £10.00 comment I have got my monies worth from this forum. Maybe after another 10 years in the hobby I will acquire the rose coloured specs a lot of you guys have been wearing. I repeat I have no agenda I live on the south coast I have a newly acquired Swift from a dealer who I am very happy with and have said so, it has has its problems and they have sorted them.

I was simply trying to put some balance into this situation and point out there is more to it, I apologise if it seemed aggressive.

thanks jettdt for your explanation, we do try to let all sides have their say on here

Mike
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post #23 of 23 (permalink) Old 16-06-2010, 21:33
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Peter says, "Its strange to me that with 'Phoenix companies' the same Directors can then buy the assets at a no doubt knock down price and if they are using their own money why didn't they be honourable and put the cash back in the business in the first place to pay suppliers and keep the business going in an honourable way. "

Because the two sums of money would be vastly different. Rescuing the company would cost much more because eventually all due debts would have to be attended to. Taking over the company from receivership would cost very much less, a fraction as much, and of course leave many creditors in the lurch, Alan.
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