DTI investigation of the Moleskins repurchase of BA

[julianc]

I understood that the DTI was going to investigate the Moleskins repurchase of Blackpool Automotive after he threw everyone out of work, ditched the debts and outbid everyone including Al Melling through what I thought was a closed bid process.

Anyone know what's going on with this investigation?

[cafcfan]

DTI Companies Act investigations are, by law, confidential. Imagine that someone makes a plausible but malicious compliant - the very existence of a DTI investigation being made public could completely destroy an entirely blameless company. For that reason you won't hear anything from the DTI, even on whether it's investigating or not, until such time as any such investigation is completed, there are detrimental findings and further action is merited. (Sorry to be boring but that's the way it is.)

[V8 GRF]

I'd be surprised if anything comes of this. I don't think Smolenski did anything illegal, morally reprehensible maybe, but illegal I don't think so.

[julianc]

V8 GRF said:

I don't think Smolenski did anything illegal, morally reprehensible maybe, but illegal I don't think so.

That's what the investigation would presumably uncover,assuming the investigation isn't affected by external influences . There were certainly some interesting things allegedly going on, but given that no-one in government has been prosecuted in the 'cash for honours' scandal, nothing would surprise me.

I wasn't expecting a mid-investigation update, just wondered whether anyone knew when it would be finished.

[gazm]

unfortunately the DTI are obliged to investigate this type of scenario but I've never heard of a positive outcome (even with cases that in my opinion were illegal)

[Horse_Apple]

gazm said:

unfortunately the DTI are obliged to investigate this type of scenario but I've never heard of a positive outcome (even with cases that in my opinion were illegal)

Do a Google search on Mark O'Hanlan and Monticello. He just got 18 months the other week. Took 6 years to happen and doesn't replace the millions lost by investors but it does go to show that the DTI does do good.

[gazm]

Horse_Apple said:

gazm said:

unfortunately the DTI are obliged to investigate this type of scenario but I've never heard of a positive outcome (even with cases that in my opinion were illegal)

Do a Google search on Mark O'Hanlan and Monticello. He just got 18 months the other week. Took 6 years to happen and doesn't replace the millions lost by investors but it does go to show that the DTI does do good.

Cool - so theres hope for the c@%t that shafted me!!

[Marco1958]

Going Through a similar situation company A paid company B £3000 a week to deliver stuff but used company A s vans,fuel and drivers???? then company A goes into administration and is bought by known faces at company B (disqualified directors after a huge fraud trial)thus screwing all the creditors.ONLY IN THIS COUNTRY like most other things in UK its a sham.