Sell your car with us - WARNING - Into Administration
Discussion
Tommie38 said:
MDMA . said:
madalin-9hqhl said:
I’ve sold 2 vehicles with these guys totalling 42k. Haven’t got any troubles getting the funds from them. Something must’ve gone wrong this year.
Your only post in 4 months and it's good news about a company that scams people out of money. 
Dr Interceptor said:
robjackson19 said:
Marcellus said:
Who will you be taking to court?
Sounds as if the company owes you money but the company is bust so as a creditor you’ll get pence in the pound.
Thanks Marcellus, but when you feel this angry about being cheated like this people tend to write what their first thoughts are before knowing the facts. Your sympathy to the 50+ people affected by this company liquidation is comforting.Sounds as if the company owes you money but the company is bust so as a creditor you’ll get pence in the pound.
You would have to in effect prove that the director(s) acted in a manner which undermined their statutory duty to act in the best interests of the company's creditors as a whole.
That may include:
- Deliberately causing company debts to increase or go unpaid
- Paying some creditors (I.e. Themselves) and not others, this is showing favouritism
- Not acting in the interest of creditors whilst trading insolvently
- Disposing of the company's assets at undervalue or no value
It's very rare that any case against directors is successful, but in this case, with the history of companies dissolving and Pheonix'ing, I think it'd stand a chance.
It still wont be an easy thing to do legally, despite the morality of it..
Assuming there's a criminal case, and it goes through the courts and delivers a conviction, the whole civil recovery process to follow could take years and/or be defeated by whatever they successfully manage to do to hide the money.
By the sounds of it they haven't been very bright in hiding the transfers of funds away from the business pre-phoenix so there's the possibility of their assets being frozen. I doubt this is above any threshold that SFO would show much interest in....
By the sounds of it they haven't been very bright in hiding the transfers of funds away from the business pre-phoenix so there's the possibility of their assets being frozen. I doubt this is above any threshold that SFO would show much interest in....
What has actually been sent to creditors?
I’m assuming you’ve been notified of a decision making process to determine the identity of the liquidator. If you all get together you might have sufficient votes to put your own IP in.
The next step might be to form a liquidation committee to assist in the liquidation.
It is a long road but there are numerous potential actions against directors of failed companies- that is not to say they are automatically successful nor is it likely you’ll get money back but it is worth exploring.
Any recoveries made first go to pay the costs and disbursements of the liquidator and so it requires a significant claim to justify the time and effort for all parties concerned.
I note there is a secured creditor so he is going to have first call on any funds in the bank account and any company assets (if there are any).
I’m assuming you’ve been notified of a decision making process to determine the identity of the liquidator. If you all get together you might have sufficient votes to put your own IP in.
The next step might be to form a liquidation committee to assist in the liquidation.
It is a long road but there are numerous potential actions against directors of failed companies- that is not to say they are automatically successful nor is it likely you’ll get money back but it is worth exploring.
Any recoveries made first go to pay the costs and disbursements of the liquidator and so it requires a significant claim to justify the time and effort for all parties concerned.
I note there is a secured creditor so he is going to have first call on any funds in the bank account and any company assets (if there are any).
The problems with these sale and return outfits are massive and there seems to be a lot of dealers doing this sor but people seem to over look them because they think they are going to get a bit more for thier car.
I would'nt buy or sell a car with a sale or return outfit for example you buy a car that was on sor it has a serious problem within 30 days so you decide to reject the car but the company who had it on sor dont have the money to buy it back because they've paid the customer who's car it was the customer puts his hands up saying it's not his problem. what do the company do they only had £1200 for selling the car so they hav'nt got money to fix it or buy it back just a nightmare and as people who tried selling thier car with sycwu have found out that some of these companies will take your money and dissapear or use it for diffent reasons and have customers hanging around in limbo for the money.
I think there was a case a few years back when a dealer up north in keighley i think that closed it's doors over night where people had left cars on sor that lost out massively but it seems people dont learn.
I dont understand why even a dealer would take the headache of selling a car for £1200 commision when risk can out way the return but like they say each to thier own.
Hope those who lost out manage to recover some of the losses they have incured.
I would'nt buy or sell a car with a sale or return outfit for example you buy a car that was on sor it has a serious problem within 30 days so you decide to reject the car but the company who had it on sor dont have the money to buy it back because they've paid the customer who's car it was the customer puts his hands up saying it's not his problem. what do the company do they only had £1200 for selling the car so they hav'nt got money to fix it or buy it back just a nightmare and as people who tried selling thier car with sycwu have found out that some of these companies will take your money and dissapear or use it for diffent reasons and have customers hanging around in limbo for the money.
I think there was a case a few years back when a dealer up north in keighley i think that closed it's doors over night where people had left cars on sor that lost out massively but it seems people dont learn.
I dont understand why even a dealer would take the headache of selling a car for £1200 commision when risk can out way the return but like they say each to thier own.
Hope those who lost out manage to recover some of the losses they have incured.
Just seen this post, very sad state of affairs and lots of people out of pocket. Some background that may help, motorzone, GP Cars and sell your car were all managed by Graham Perkins or Graham Ewing officially or unofficially, his wife Suzanne Ewing or Suzanne Bull also listed. Steve Prosser worked for Graham, and on GP Cars going into administration suddenly became the MD of the "new" business. The mode of operation seems to be rent a large detached property with lots of space and start selling cars from it, they have been in Brickendon, Bell Bar previously. Graham is the guy behind it, owns GP 1 reg plate I think.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff