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Pedro

BRIDEN CONSTRUCTION

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Sounds like the Bank has pulled the plug on Messrs Foden and Rogers - unlikely to be any RBS banners on their several sites around town and the helicopter may have to go too - will be interesting to see what happens to the Locker site on Church Street which was Briden's next big development.

 

8)8)

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Whats the betting that it is a tax dodge? We he open up again in another name next week buy all the assets at a super knock down price, get a big council contract and all is fine for another few years. Apart from the creditors who may get 10% + tax back.

maybe I am being cynical

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This happened before xmas, when I hinted at it in one of the topics. Allegedly they were operating the next day under another name.

I am led to believe that allegedly, they have done this before.

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Or maybe not LF. I have seen.....and experienced this time and time again as a creditor, when I was in business. I thought it disgraceful then and I still do. I do of course accept that companies do get into trouble, and given the current "credit crunch" it might become a frequent event during 2008. However, it is the duty of liquidators to act in the best interests of the creditors in getting the best price for any assets and to report any wrongdoing by the directors in the running of the company. Time will tell as they say.

 

PS Any finished apartments still owned by the company might be sold off quite cheaply, so anybody in the market for such a property should make enquiries of the Stockport based liquidators.

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Originally posted by Paul Kennedy:

 

PS Any finished apartments still owned by the company might be sold off quite cheaply, so anybody in the market for such a property should make enquiries of the Stockport based liquidators. [/QB]

I am unaware of any that are not finished. I guess that they are in between jobs,(ie waiting to start the next one on Church Street.)

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Originally posted by McBain:

Foden and Rogers will be back - they like messing around in Warrington too much to stay away :D

Propably just set up another company with a slightly different name...

 

Rodent and Bodgers perhaps :D

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Originally posted by little fella:

Apart from the creditors who may get 10% + tax back.

In the case of a debtor going into liquidation then the creditor can reclaim any VAT back on outstanding invoices and also charge the debt net of VAT against profits.

 

However, in the event that the liquidators pay a dividend then it is assumed to include VAT which the creditor has to hand over to the HMRC, in addition to which the dividend net of VAT is included in the profits and taxed accordingly.

 

THe people who seem to do the best from liquidations always seem to me to be the liquidators especially if the company goes into liquidation with a reasonable asset base. I recall one case where it looked reasonable for there to be a dividend of 60p in ?1....after 5 years the dividend paid was 10p in the ?1. The liquidators fees had to be seen to be believed. :redmad:

 

[ 04.01.2008, 21:00: Message edited by: Paul Kennedy ]

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Bit like WBC bailiffs then... quids in for sorting out the payment of money owed by either taking their personal cut out first before handing the money over (so the person still owes part of the debt) or banging huge costs on top payable with the original debt to wipe it out....

 

Ever get the feeling we are all in the wrong proffessions :D

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The thing is that it is legal, very much like solicitors when they act as executor of a persons will. Having just had such dealing with a friend ?40K for selling a ?120K house.

They hung Dick Turpin for that.

Their own profession considers that their fee's are reasonable. Also a bit like MP's, in control of their own pay scale.

I think that you are right about this year going to be very tight, which is going to fall heavy on pensioners Gordon has made it clear that he on not going to budge on pension rise and I dont tjhink that he will be bothered, it would be better for him to loose the next election and then he can blame someone else for the mess that the country is in.

The demo in London and at the HS home by approx 50,000 police will be interesting. The Government want it banned but the Met Police are not banning it at the moment and it would seem that they are also not going to police it. Talks are continuing !!!

 

Back to the builders though, They also own a lot of property that is let out, how will people stand with their rent agreements? They obviously now pay to the liquidator but at a date in the future if a new landlord cannot be found will they be evicted?

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Quote:

Back to the builders though, They also own a lot of property that is let out, how will people stand with their rent agreements? They obviously now pay to the liquidator but at a date in the future if a new landlord cannot be found will they be evicted

 

I think that there property is let through Homelets, which I believe they own anyway. That will be a different company I would imagine.

 

Remember the saying: Don't put all your eggs in one basket.

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You might find that they have a number of businesses and only one of them has been put into liquidation. So with regards to the rental side it might well be business as usual. :wink:

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Originally posted by little fella:

I think that you are right about this year going to be very tight, which is going to fall heavy on pensioners

 

 

The demo in London and at the HS home by approx 50,000 police will be interesting. The Government want it banned but the Met Police are not banning it at the moment and it would seem that they are also not going to police it. Talks are continuing !!!

 

Also on young families on modest wages. The poorest pensioners tend to be single women who looked after their parents and therefore made minimal NI contributions

 

Think it is disgraceful to try and ban marches, in a vibrant democracy peaceful protest and marches etc should always be allowed indeed encouraged.....just remembered the current lot in charge aren't in to democracy though. :wink:

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Little Fella - did you really mean ?40K for a solicitor to deal with sale of a ?120k property ??. Having experienced how insurance companies allow legal fees to come to more than the value of the claim involved I have since always believed in getting a quote from solicitors with regular updates on total running costs. As for BRIDEN/FORDS I think there is a BRIDEN HOMES as well as KEY LETTINGS and maybe more - when they were keeping the Council waiting on monies owed there was talk of offshore bank accounts so maybe thre is a lot to come out in the wash as they say.

 

8)8)

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Originally posted by Dismayed:

 

Ever get the feeling we are all in the wrong proffessions :D

Yes but at least the VAST majority of us do HONEST professions :wink: unfortunately as is plain to see - not just locally but globally - the only way to make a very big income is by doing it underhandedly and dishonestly :roll: .......... there's no money in hard work or being honest nowadays :x

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Originally posted by tonymailman:

Originally posted by Dismayed:

 

Ever get the feeling we are all in the wrong proffessions :D

Yes but at least the VAST majority of us do HONEST professions :wink: unfortunately as is plain to see - not just locally but globally - the only way to make a very big income is by doing it underhandedly and dishonestly :roll: .......... there's no money in hard work or being honest nowadays :biggrinbounce: :onfire:

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Originally posted by Pedro:

As for BRIDEN/FORDS I think there is a BRIDEN HOMES as well as KEY LETTINGS and maybe more - when they were keeping the Council waiting on monies owed there was talk of offshore bank accounts so maybe thre is a lot to come out in the wash as they say.

Blimey.... I remember when the Fodens were just a couple of DJ's with an old Ford Escort Van!!

 

I worked with them a few times with a lad I used to work for/with and always found them to be an OK pair of lads. Whenever I have seen either of them in recent years they have always been OK. Then there was the video shop and so on!

 

Maybe the rise of the property empire has made them enemies along the way. Maybe money does things like that to people!!

 

I personally wouldn't know!!

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