Psychic News, SNU Spiritualist National Union and Liquidator

Page 6 of 13 Previous  1, 2, 3 ... 5, 6, 7 ... 11, 12, 13  Next

View previous topic View next topic Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Aug 25, 2010 7:19 am

The SNU announcement states that Mark West, of Berley, Chartered Accountants, located at 76 New Cavendish Street London W1G 9TB UK is the Liquidator appointed.

Does anyone know anything about this person. It appears he has been advising since April. Does anyone know whether he has an association or friendship with any of the Working Party set up in April ie David Bruton, Duncan Gascoyne, Mark Bradley and Andrew Hadley.

Anyone into a bit of Private Investigator work over there?

From linkedin

Mark West Senior Manager at Berley Chartered Accountants

Dartford, United Kingdom
Contact Mark West
Add Mark West to your network
.Current •Senior Manager at Berley Chartered Accountants
Connections 15 connections IndustryFinancial Services
--------------------------------------------------------------------------------

Mark West’s Experience
Senior Manager
Berley Chartered Accountants
(Financial Services industry)

Currently holds this position


--------------------------------------------------------------------------------

Mark West’s Contact Settings
Interested In:
•consulting offers
•expertise requests
•business deals
•getting back in touch

--------------------------------------------------------------------------------


Here is a link to Berley's pdf guide to insolvency
http://www.berley.co.uk/pdf/CorpInsolvency_Hi3.pdf
I notice Mark West is not one of the principal players named in this area in the brochure.

However he must be well known by this quote from
http://www.thisismoney.co.uk/news/article.html?in_article_id=486380&in_page_id=2

"Ministers want to encourage banks and others to lend money to insolvent firms to help them trade out of their difficulties. They believe the way to overcome lenders' reluctance is to give them 'absolute priority' over the assets of the company should it go bust anyway.

But this would cut across the rights of those who had lent money to a firm before it became insolvent and who believed their loans were secured on those assets.

Were these original creditors to sue, the whole process of restructuring and rescuing troubled firms could be halted.

'This would involve breaking through existing contractual arrangements,' said Maurice Moses, restructuring partner at accountant Ernst & Young.

'I am not sure how it is going to work.'

Mark West of chartered accountant Berley said: 'Any such arrangement has to be open to the charge of being unlawful.

'It would undermine the rights of the original creditors. Furthermore, it would be open to abuse by unscrupulous lenders.' "


Read more: http://www.thisismoney.co.uk/news/article.html?in_article_id=486380&in_page_id=2#ixzz0xbGkX3v8

I also notice they are a West End firm. Are any of the working party based nearby?
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Bill on Wed Aug 25, 2010 10:11 am

Thank you Wes.
A back handed compliment if ever I saw one.

Bill

Bill


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Aug 25, 2010 12:24 pm

Absolutely Bill they are not doing anything right at the moment
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Thu Aug 26, 2010 11:39 am

Hi All I have another address,

If your money was banked after May22 and you will not get either a repayment or the goods.

Use the contacts here, what the hell, everyone who subscribed after March31 complain through the channel hereand link Paranormal Review and this site.

http://www.companieshouse.gov.uk/infoAndGuide/reportingFraud.shtml

Lets be truly exact, if they knew before May 22 they were insolvent, trading (paying debts, wages, accepting payments) until this week, then passing the company into liquidation as insolvent (unpaid creditors, money accepted after May 22 for goods they knew they could not supply and then the failure to pay out employee redundancy) this may well be viewed by Companies House as Fraud....ASK THE QUESTIONS ALL OF YOU.

At the very least Mark West Of Berley Chartered Accountants will have to behave in a correct manner and really start to investigate the Directors and NEC. There could be a lot of money in that for his Company.
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by zerdini on Fri Aug 27, 2010 1:15 pm

I read in Paranormal Review that Roy Stemman is unable to attend the meeting with the liquidator on September 15th and another contributor wrote that the date was not set in stone.

Is the meeting to go ahead as advised by the SNU or not? All very confusing!

Perhaps Susan Farrow and/or Geoff Griffiths would be prepared to act as proxies on behalf of all those unable to attend.

zerdini


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Sat Aug 28, 2010 12:04 am

Hi Z both good names to suggest and I am sure they would ask some difficult questions.

I saw that news on Paranormal Review and believe the person involved had rung the liquidator who gave that rather confusing answer.
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Sep 01, 2010 7:31 am

I notice that the Liquidation has still not been notified upon the Companies House Web Site

http://wck2.companieshouse.gov.uk/a97646d17af10c3813fa64f2c49cb716/compdetails

71 days on from the resolution to Liquidate and still counting
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Thu Sep 02, 2010 1:21 am

Hmm is it just me or has the Psychic Press website vanished.

Surely they should have left a notice on there so people knew who to contact.

http://www.psychicnewsbookshop.co.uk/ Gone

By the way now 10 days after the Liquidator was stated as active there is still no mention on Companies House Records.

We are now 72 days on and counting from when the Board of Psychic Press (1995) Ltd first 'decided' on 22 May 2010 to put the company into liquidation. One must wonder just what the SNU is really up to.

avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by zerdini on Thu Sep 02, 2010 9:45 am

Admin wrote:Hmm is it just me or has the Psychic Press website vanished.

Surely they should have left a notice on there so people knew who to contact.

http://www.psychicnewsbookshop.co.uk/ Gone

By the way now 10 days after the Liquidator was stated as active there is still no mention on Companies House Records.

We are now 72 days on and counting from when the Board of Psychic Press (1995) Ltd first 'decided' on 22 May 2010 to put the company into liquidation. One must wonder just what the SNU is really up to.


It is the Union's sad duty to report that Psychic Press (1995) Ltd has ceased to trade and instructions have been given today, 23rd August, to Berley Chartered Accountants, to take the necessary steps to put the company into liquidation.

The date of 15th September next has been fixed for the meeting of the shareholders and the creditors and the liquidation will take effect from this date.

(Liquidator amendment: 31st August 2010)

zerdini


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Thu Sep 02, 2010 9:55 am

Thank you Z so they have changed this and dropped Mark West...By the bye it ties up with a serious email I sent to Berley's and the CIB

Creditors will receive notice of the latter meeting from the liquidator, who is Jeremy Berman of Berley, Chartered Accountants, 76 New Cavendish Street, London W1G 9TB, tel. 020 7636 9094.
avatar
Admin
Admin


Back to top Go down

Psychic News liquidation

Post by Inspiration on Fri Sep 03, 2010 7:35 pm

Dear Admin,

How much notice should a creditor have of the Creditors' Meeting. I am a creditor and have not been informed of such a meeting. What can I do?

Thank you

Inspiration


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by zerdini on Fri Sep 03, 2010 9:10 pm

Inspiration wrote:Dear Admin,

How much notice should a creditor have of the Creditors' Meeting. I am a creditor and have not been informed of such a meeting. What can I do?

Thank you

Write to: Jeremy Berman of Berley, Chartered Accountants, 76 New Cavendish Street, London W1G 9TB, tel. 020 7636 9094.

zerdini


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Sat Sep 04, 2010 12:03 am

Hi Inspiration,

I wrote a detailed letter 4 days ago which they would have received just after opening on Tuesday 31st August. I sent it to the attention of all the insolvency partners of Berley's rather than Mark West. I also copied the Companies House Company Investigation Bureau (CIB). I sent a follow up to be with them start of business 3rd September cc'ing all the above recipients again.

Sadly I have, as yet, received no answer but in the case of the CIB I would not expect one as they act entirely at their own discretion and treat all emails received in total confidentiality.

I am considering my next step at this stage. Somehow, I think they will have difficulty establishing the list of small creditors.

In order of legal importance these are (I am ignoring the obvious trade creditors and the probable debt to the SNU for rent I am sure that without breaching charities committee rules they could always have waived that).

Those people who paid for tickets/seminars with Gordon Smith/Mary Armour and for Stewart Alexander where the money was collected after the date of the resolution to liquidate and has since been used to run the company to its insolvent end. Indeed given the April working Party I would suggest the key decision makers knew the Company was already insolvent then; so any money paid since some time in April).

Any people who renewed their subscription for PN in similar circumstances. If they received any copies then it would be for the balance of undeliveed papers.

All subscribers for the proportion of their subscription that was undelivered. This would include Churches that paid in advance for multiple copies they could sell.

All in all this could be quite a substantial sum.

To use this we need to get the right to lodge our debt, get proxy forms and direct them to a single person to ask questions and use the entire sum as a block vote to ensure that the make up of the Creditors Committee of Inspection is not just NEC members.

Apart from asking questions I also asked for the method to prove my debt and proxy forms which I have not received.

I would be willing to contribute to the fee to a sharp and pointy company lawyer to attend on behalf as the proxy if others joined in. I am sure such a person could give the attending Psychic Press Directors and the Liquidator a rough time with all the evidence that is now available

As my letter reserved my right to publish it in open debate, if either no reply was forthcoming or a reple was unsatisfactory, I am strongly considering posting it here with also a modified form that every creditor could use sending of course a copy of any email to the Liquidator to the CIB to keep everyone honest and on their toes.
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Mon Sep 06, 2010 1:32 am

As suggested here is the follow up and original letter sent to the CIB and Liquidator

Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126
For the Attention of the Insolvency Partners; Jeremy Berman; Mark Levy; Sammy Elijah; Mark Riley, info@berley.co.uk
Copies also to Companies House Companies Investigation Bureau enquiry@cib.gsi.gov.uk

Dear Sirs.

I have not yet received an acknowledgement of my email of the 31st August 2010 and I am becoming concerned about the time constraints that may exist in making my arrangements to ensure I am represented at the Creditors Meeting. I also find that there are still more disturbing rumours circulating which I am investigating to see whether they should also be presented at that meeting. You would understand that I consider this matter a very serious one.

I should point out that with over 4,000 subscribers there will be a substantial Creditor base amongst those who have paid in advance for issues of the newspaper they are not now receiving. Then as additional creditors there are all the people who paid for ticket/seminar events where the money has been taken and used by the company although the events were not proceeding.

I look forward to an urgent reply.

Yours faithfully
Jim Warwood

Sent: Tuesday, 31 August 2010 7:29 PM
To: 'info@berley.co.uk'
Cc: 'enquiry@cib.gsi.gov.uk'
Subject: Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126

Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126
For the Attention of the Insolvency Partners; Jeremy Berman; Mark Levy; Sammy Elijah; Mark Riley, info@berley.co.uk
Copies also to Companies House Companies Investigation Bureau enquiry@cib.gsi.gov.uk

Dear Sirs,
Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126

The Spiritualist National Union of Great Britain (SNU) has placed an announcement on its website naming your firm as the Liquidators of the above Company, with liquidation effective from 23rd August 2010. This announcement can be found at http://www.snu.org.uk/news/pn_statement2.htm. The SNU are the owners of the above named company having acquired the assets of it around 15 years ago from a similarly named company run independently.

I am writing because I am a creditor of the company, albeit for a small sum. On May 5th, 2010, we paid a six month subscription for internet copies of the weekly publication Psychic News, produced and distributed by Psychic Press (1995) Ltd. This covered 26 weekly publications commencing with the edition on May 1st 2010. We received 13 issues with the final one received on 24th July 2010.

This final edition was the first time that subscribers to Psychic News and purchasers of goods or services, including advance tickets for future events advertised in Psychic News and designed to be fund-raisers for that publication, were notified of the closure. Since then no one has received any contact from Psychic Press (1995) Ltd to inform them of the situation, though some people who wrote to the Company in early August, asking for a refund of subscription or advance payments for future events, received emails in reply that made it clear the Company was going into liquidation and a return on monies was therefore unlikely.

I now wish to lodge proof of my debt and obtain proxy forms. I intend to hand these, the right to vote, and ask questions, to an appropriate party in the United Kingdom. I do so because the events surrounding this issue are of great concern to me. Considerable information has come to light on the internet to indicate that there may well be something severely wrong with the process that has been used in this matter.

I say this as someone with considerable experience and understanding in this field. For 40 years I have worked at a senior level in business with roles in General Management, running a company through a period of turbulence, as a Senior Finance Manager and as Company Secretary. Trained as an Accountant in the UK with a Business Degree and postgraduate qualifications, I am well in tune with the process of company insolvency as any self respecting Finance Manager/Company Secretary would be. In the face of the information which has become available I have also updated my knowledge of UK procedures.

I draw your attention to the issues which I see that should concern yourselves, as liquidators. These are matters all creditors, and particularly those people whose money was accepted after the liquidation was resolved upon, for services which were clearly not going to be provided, should be concerned about, especially given the Company is now liquidating in an insolvent fashion, failing to pay out its staff redundancies, telling the loyal employees to approach the Government Scheme.

There has been considerable conjecture about what has been going on discussed on a number of internet sites. Much of this conjecture has been proved confirmed by an interview with the Editor of Psychic News, shortly after they ceased to be employed. The interview, published on line by another experienced editor, provides information that proves the time line I will outline in this email. I am certain that the former Editor of Psychic News and those involved in publishing that interview would not have done so without real evidence being available to support their statement.

At the end of this email I will give the necessary internet links for you. This will give you greater clarity of the issues under consideration and the strength of feeling in the Spiritualist community. It will also allow you to establish the sources of the pieces of information put together below.

The major questions I believe must be satisfactorily answered are:

• When was the Company found to be insolvent by the Directors and Management;
• Why has nothing been done in the 3 months since the original resolution to liquidate was passed;
• What steps were taken at that time;
• Why has the company continued to trade while knowing it was insolvent;
• Why did the Directors not immediately place the Company into Administration once they established there were insolvency risks..

Timeline of Events:

April 2010
In April 2010, a Working Party was formed to consider the future viability of Psychic Press (1995) Ltd. It comprised Duncan Gascoyne, then President of the SNU, Andrew Hadley member of the Finance Committee of the SNU, David Bruton, Chairman of Psychic Press (1995) Ltd, SNU Finance Committee member, now President of the SNU, and Mark Bradley, Executive Director of Psychic News.

It is understood the two other members of the Psychic Press Board were not involved in the Working Party, which apparently met a number of times during April and received advice from specialists including a liquidator.

That a liquidator was consulted may not be unusual, but I wonder who was the expert consulted, and who was responsible for their remuneration. Indeed, if a reputable Liquidator was consulted I am somewhat surprised at the events that have followed on from that time. It appears to me it is possible subsequent events may have occurred because the Working Party were aware, as early as April, of Psychic Press’s insolvent situation, as a result of their investigation at that time.

May 2010:
The Board of Psychic Press (1995) Ltd then met on May 22nd 2010, and passed a resolution to put the business into liquidation. I note that it is apparent that the necessary statutory declarations of solvency were not passed before this resolution. Therefore it is not possible to call this a Members Voluntary Liquidation. The action did not therefore need the approval of the owners and in fact the rules about the Directors notifying Companies House, gazetting and advertising the situation should have come into play. Indeed by 5th June all creditors should have known and the business put on hold.

Had the directors wished to hold off in any way they should have appointed an Administrator, providing a safeguard against the possibility of trading whilst insolvent, giving Psychic Press (1995) Ltd the breathing space to allow a different resolution, even a sale. They did not, so all acts after this date must be looked at in the light of the final resolution of an insolvent company.

June 2010:
In fact, the SNU, owner of Psychic Press (1995) Ltd did ratify the resolution to liquidate the Company at a meeting on June 12th 2010. The Editor of Psychic News was told on that date, by the Executive Director and Chairman, the Company would cease trading on July 31st 2010. I note that at that stage it appears the SNU took over exercising managerial decisions concerning Psychic Press (1995) Ltd excluding two Psychic Press Directors from further involvement.

On June 2nd cheques received for future events, which would not occur if liquidation took place, were removed from the offices of Psychic News by an SNU officer and banked. This occurred despite the fact that from May 22nd a critical date in this matter, liquidation was planned for Psychic Press (1995) Ltd. The Directors did not sign statutory declarations of solvency and were clearly anticipating insolvency of the Company.

Even with such important decisions made, throughout June and July, the Psychic Press internet website was not disabled so people, unaware of the real situation, were still purchasing subscriptions for the doomed Psychic News, and buying event tickets with no warning of the impending liquidation. This pay portal was to remain active into August.

It appears the planned closure of Psychic News, and cessation of operation of Psychic Press (1995) Ltd, had been meant to happen without news getting out. However, in early June 2010, rumours of what was to happen began to circulate, resulting in protests being received by the then SNU President, Duncan Gascoyne, and possibly others. The Editor of Psychic News was then informed of an immediate liquidation on the 13th June. On June 14th this was rescinded leaving the whole situation in confusion, not to mention the stress and uncertainty caused to the staff.

July 2010:
The members of the SNU were told of the decision to liquidate Psychic Press (1995) Ltd, at their annual conference on 17th and 18th July, and it was made clear that the National Executive Committee had decided upon this action. I note that while the conference attendees were informed of the decision, no information was presented to clarify when it had been made leaving the members uninformed as to the true circumstances surrounding the NEC’s action.

Prior to the conference approaches had been made to Psychic Press (1995) Ltd and the parent company, the SNU, by parties offering financial support. These offers of not insignificant sums were rejected, despite the fact they may have prevented the insolvency and allowed the business to continue. Indeed, given what they were doing with money coming in for services that would not be supplied, this rejection seems almost absurd because it would have removed the issue of insolvent trading.

Even now, more than 3 months since the decision to liquidate was first made, no one has officially been informed, even though the staff have been removed and told to claim redundancy upon the Government Scheme.

Attention should also be given to the fact that the SNU also failed to take advantage of another potential solution to the financial difficulties of Psychic Press (1995) Ltd. The SNU received an offer to acquire the company lock stock and barrel in late July early August. This seems the simplest and most elegant solution. All of the creditors, the staff and subscribers would have been protected by the purchaser. Yet the SNU refused to sell the two key assets of Psychic Press (1995) Ltd, that is, the masthead of Psychic News and its archives.

It is understood that the SNU now claim it directly owns these assets, and seems intend on retaining them through the liquidation process. This seems an extraordinary claim, given that these assets were acquired by Psychic Press (1995) Ltd as part of the purchase agreement.

How did this transfer of crucial assets occur? If it happened in the last eight months it would clearly be a transaction to disadvantage the other creditors. The SNU are not just the owners but a major creditor, so any transaction like this would create a preference in liquidation that should be set aside. However, if it occurred earlier, the transfer of such key assets as the masthead and archives are transactions of such magnitude they would have to have been minuted, and genuine consideration have passed from the SNU to Psychic Press (1995) Ltd at a fair market valuation.

I raise this specific point because those assets should be available to the liquidator now they have been appointed and yet the SNU statements indicate their intention to retain them. I fail to see how it is possible that the SNU can do this in an open liquidation.

I am sure that you can see my concerns about the events described here. It seems clear that proper processes have not been followed. Equally, both the Directors of Psychic Press (1995) Ltd and the parent body, the SNU, have knowingly allowed the Company to continue trading even though it was clearly insolvent, as the failure to pay staff benefits and creditors proves.

You can understand why I would oppose the major creditor imposing itself upon the Committee of Inspection in liquidation, as major members of its executive have been culpable in these events.

Considerably more background can be found at
Paranormal Review
http://paranormalreview.com/articles/20100819 Last Psychic News Editor Tells all
http://paranormalreview.com/articles/20100817_1 Life, death and asset stripping?
http://paranormalreview.com/articles/20100824 Psychic news Goes into Liquidation
http://www.spiritualismlink.com/psychic-news-under-threat-of-closure-f37/

I look forward to your proof of debt forms and the attached proxy details ASAP

Given my personal opinion of the importance of this issue, to the public interest, the creditors and ex staff of Psychic Press (1995) Ltd, I reserve my right to publish this letter to draw attention to the matters involved.

Regards

Jim Warwood
Director
New Directions Network Pty Ltd
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Mon Sep 06, 2010 11:49 pm

Hmm I must have a way with words Berley seem intent on ignoring me, now 2 days on from my follow up with no reply, so a week from my first letter.

Amazing too now day 77 and the liquidation is still not registered at Companies House. This is well past the 7 working days the liquidator is allowed to do this duty.

The way its going the only creditor who may arrive with their debt all proved and ready to vote is the SNU.

The cynic in me says that once a Committee of Inspection is appointed, comprising purely NEC members, then there will be no chance of dispute. All the other creditors will then receive is a Sorry there was no money to distribute and the SNU will have purchased the masthead and archives at the cost of paying a small fee to the liquidator which, given how long they may have been dealing with each other the amount of which could be interesting to see. Of course Creditors get a right to see the final accounting so, if we can register, we get to see this.

Remember the new Liquidator Jeremy Berman is the Senior Lquidation Partner and his rate of charge must be around 450-500 pounds per hour so a full liquidation is expensive and usually funded by the threat of action against the Directors.

If it gets to the stage of the NEC forming the Committee of Inspection then, apart from a very expensive legal case, the CIB are the only possible organisation to ensure that the assets are handled in the due manner. Now I hope my cynicism is misplaced and Berleys are now going for a full investigation of all the issues involved and a full offer of sale for all the assets even Masthead and Archives.

This is why it is so vital to get our debts recorded and proxy voting forms. Without a registered debt it is impossible to vote at the Meeting of Creditors. It appears to me the slowness of action on the liquidators part means that the meeting should be deferred.
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by zerdini on Tue Sep 07, 2010 9:24 am

I understand from a couple (husband and wife) who applied to attend the Stuart Alexander day seminar/seance that they have received a cheque from the SNU repaying their fee in full.

It would appear that there is money available for this purpose. Rolling Eyes

zerdini


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Lis on Tue Sep 07, 2010 9:38 am

Now that is a VERY interesting piece of information Z.

Of course, one must ask just who this couple might be and in what way they approached the SNU in order to obtain a refund. One must also ask how it is that the "SNU is repaying their fee in full" given the debt is owed by the company Psychic Press (1995) Ltd.

Perhaps one should also ask whether ALL those who paid in advance to attend an event will also get their money back? If not, why not?


Lis
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Tue Sep 07, 2010 9:55 am

Z a nameless couple may not help us, there is something serious going on here, when in fact the SNU may be forced to accept all of the debts of Psychic Press, given my guts say they knew for a long time PP was insolvent. A new post will be forthcoming.

However, if the SNU accept one claim they have to pay out for everyone. My guess is, with a poor accounting system, they realised in April they were insolvent at year end Dec 2009 and so have to accept, as the SNU, all debts claimed, if they pay this one. Everyone who paid money from that time, Dec 2009. IF the SNU have agreed to this their incompetence astounds me. This proves that the SNU agree that they traded Psychic Press Insolvently to the knowledege of their NEC and accountants.

Well well what a mess they are creating
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Tue Sep 07, 2010 11:56 pm

Hmm Berleys are still ignoring me time for another reminder I feel, also now 78 days with no liquidation notice appearing against Psychic Press.

I may ask them whether the SNU paying out one debt means they are accepting liability for all debts.
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Sep 08, 2010 8:42 am

Hi All,

Given the lack of any reply I have just sent the following email to Berley's and the CIB

Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126
For the Attention of the Insolvency Partners; Jeremy Berman; Mark Levy; Sammy Elijah; Mark Riley, info@berley.co.uk
Copies also to Companies House Companies Investigation Bureau enquiry@cib.gsi.gov.uk


Dear Sirs,

I am following up my two previous emails to you dated 3rd September and 31st August and included below.

I am concerned that I have not received any information from you especially as the Spiritualist National Union of Great Britain (SNU) announcement on their website specifies the 15th September 2010 as the date of the creditors meeting. I notice this announcement, which can be found here, http://www.snu.org.uk/news/pn_statement2.htm, nominates Jeremy Berman as the liquidator as a replacement to the original name given which was Mark West.

If this date is correct neither myself or any other creditor has received any notice stating the time and place of the meeting. Not surprisingly this is something which must place the validity of such a meeting at risk.

I also understand, from a reliable source, that the Spiritualist National Union has repaid, by a cheque drawn on the SNU, one couple for the tickets they had paid for regarding one of the a future events which will not be happening. Strangely they are the only people I have been told about receiving a repayment, others have been told repayment is unlikely because there will be insufficient funds in the Company.

This is a very odd situation as the money was paid to Psychic Press yet the SNU are repaying it does this mean;
• The SNU are accepting liability for all debts outstanding from Psychic Press? Have they accepted that, as the members of their National Executive Council effectively took over the Management of Psychic Press after the resolution to liquidate on May 22nd , they have a moral and legal responsibility to make good the insolvent debts?
• That they have opted to pay one person but not others? If so surely this is evidence that they should accept liability for all of the debts?

I also notice, with some surprise, that the Companies House listing for Psychic Press still has no mention of Liquidator Appointed although the decision was made on May 22nd. It is more surprising that they decided this with a Liquidator on standby, with the Company in an insolvent trading position yet claim the liquidation was only effective on August 23rd when Berley’s were called in. Even so 12 working days have elapsed to notify Companies House in. Indeed the Directors should have dealt with all this by the 5th June on their own.

I look forward to an early reply, as I am sure do all the other creditors, to ensure that we are able to exercise our rights at the creditors meeting.

Yours Faithfully
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Sep 08, 2010 12:10 pm

This is very important, if you are owed money read this and contact Mark West immediately



Dear Mark, mark.west@BERLEY.co.uk

cc. Jeremy Berman
cc.CIB

I am surprised that your original reply was not received, indeed I cannot in anyway understand this as a click to reply would have reached me. I am very concerned that it has delayed my reply to you. I also note that in the way you have now sent what you claim was sent previously, the listed attachments are not retrievable and cannot be viewed or downloaded.

With regard to your email today, I note a number of issues you raise especially. You state in regard to my initial correspondence: “There are factual inaccuracies within the email relating to the company, its officers, the ownership of assets, it current status, reasons for demise et al. Obviously, you have based your conclusions on limited information and it is fair to say that some of it is misleading”
I do not believe this is so, the information we have gathered, is I believe, as accurate as anything presented to you by the Directors of Psychic Press.. However, perhaps you will by return email provide detailed information as to why it is wrong,

I also ask how, given the absolute knowledge I have that the liquidation was a resolution of Psychic Press on May 22, you can state: “Statutory notices were circulated yesterday (that is on September 2nd) to all known creditors and the formal meetings to place the company into liquidation will take place on 15 September 2010."
It is clear that in reality that many creditors have not been notified.

You add: “Prior to that date, the proposed liquidator, Mr Jeremy Berman, has no locus standi to deal with any queries and the responsibility to manage the business remains with the officers of the company. I have received several letters, emails and telephone calls from creditors who are clearly concerned. I have stressed to the directors that it is important to address these issues. Obviously, my knowledge of the day to day running of the business is limited.” This statement seems astonishing, given the length of time you have been involved in advising this company.

I am also surprised at your comment “I am assisting the directors with the statutory requirements entailed with formally placing the company into liquidation. At the creditors meeting, a report and statement of affairs will be presented and a copy of it will be circulated to the creditors after the meeting. I hope that the report addresses your issues but if further investigations are necessary after the event, then this will be undertaken by the liquidator.” It is my belief that you have been assisting them since possibly April and I would be delighted that you explain this is untrue with explanations of the type of advice provided plus the dates you met them. If you have been working with them for this period I would ask you how you think my information is wrong and explain it to me.

As to proving I am a creditor, if you resend the email, with attachments that can be opened, to my address, I will be delighted to do so, but you will have to hurry, I am very concerned at the lack of follow through. I take it that you have established a complete list of all the creditors’ including those who were disadvantaged by the banking of moneys for events that will not happen and those who have lost part subscriptions to Psychic News or made their subscriptions after the Directors knew the Business would need to be liquidated as an insolvent company, that is prior to May 22nd.

I think that we would agree these are very important matters and it may appear that the Directors have given you a very incomplete picture of the outstanding creditors. I find it very worrying that none of these other creditors have been informed. In the interests of fairness I will ensure that all the creditors that subscribe to the spiritualismlink forum are made aware of this contact and provide your details to them. I am also sure that Paranormal Review will carry this information urgently to ensure this gets wider coverage. If you give the forms in an appropriate manner I can also help to spread the information.

Personally I believe that a delay in the meeting is fully warranted, until you establish a full list of creditors and contact them. However I am sure that, if you provide the necessary forms post haste, I and others can register and ensure a proxy attends the meeting.

Thank you for your reply, it appears to me that neither you nor I have a clear picture of the realities here, although I am confident about the comments I have made. These are of course supported by the plain fact that the Company is closing in an insolvent manner, trading since May 22 in this fashion. I note the failure to pay out the employees and refund all monies due especially those taken and banked, after the insolvency date, for events the Directors knew would not occur, an act which has a specific category under law, as you would well know.

Regards

Jim Warwood

Copy of attached email by Mark West of Berley

From: Mark West
Sent: 03 September 2010 12:23
To: Subject: Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126

Attachments: CVL308A - Creditors' guide to liquidator's fees - post 060410.pdf; CVL304 - Proxy Form.doc; CVL305 - Creditors letter enclosing S 98 notices etc.doc; CVL306 - Notice to Creditors.doc; CVL307 - Creditors' Statement of Claim.doc; CVL308 - Creditors' guide to liquidator's fees - pre 060410.doc



Dear Sir

I refer to your recent email and specifically, the email dated 31 August 2010. There are factual inaccuracies within the email relating to the company, its officers, the ownership of assets, it current status, reasons for demise et al. Obviously, you have based your conclusions on limited information and it is fair to say that some of it is misleading. Statutory notices were circulated yesterday to all known creditors and the formal meetings to place the company into liquidation will take place on 15 September 2010. Prior to that date, the proposed liquidator, Mr Jeremy Berman, has no locus standi to deal with any queries and the responsibility to manage the business remains with the officers of the company. I have received several letters, emails and telephone calls from creditors who are clearly concerned. I have stressed to the directors that it is important to address these issues. Obviously, my knowledge of the day to day running o the business is limited.

I am assisting the directors with the statutory requirements entailed with formally placing the company into liquidation. At the creditors meeting, a report and statement of affairs will be presented and a copy of it will be circulated to the creditors after the meeting. I hope that the report addresses your issues but if further investigations are necessary after the event, then this will be undertaken by the liquidator.

Prior to the statutory meeting, there is little that I can add to the content of this email but I confirm that a copy has previously been sent to the directors for comment.

I have attached a copy of the statutory notice which was circulated last night.

Regards


Mark West.



From: Mark West [mailto.west@BERLEY.co.uk]
Sent: Wednesday, 8 September 2010 7:32 PM
To: Jim Warwood
Cc: 'Charles Coulston'; 'davebruton@aol.com'; Jeremy Berman
Subject: RE: Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126


I attach a copy of my email of 3 September 2010. I reiterate that you are reaching conclusions which are factually incorrect. Additionally, I am unclear whether you are a creditor. Hence, until I receive such evidence, I will be unable to provide any further information. I would also reiterate that the meetings to place the company into liquidation do not take place until 15 September 2010.

Regards

Mark West
Berley
________________________________________
From: Kathy Tilley
Sent: 08 September 2010 09:43
To: Mark West
Subject: FW: Re Liquidation of Psychic Press (1995) Ltd Co No. 02978126[/b]


Last edited by Admin on Wed Sep 08, 2010 12:34 pm; edited 3 times in total
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Lis on Wed Sep 08, 2010 12:28 pm

Jock stated: "This is true to form when a company goes into liquadation all the rules go out the window and lots of paper-work seems to vanish. No-one will get any correspondance (other than notice of the meetings) rebates or feed back untill after the creditors meeting."

Well Jock, certainly in this situation all the rules relating to liquidation do seem to have gone out the window, and I am sure there is paperwork which will vanish. Of course, some paperwork which the SNU might like to think has been effectively lost just might still find a way to the light of publicv scrutiny. It seems not all in the upper eschelons of the SNU are so convinced about what has gone on as some might like to think.

As for notifications to creditors - there is a claim by Mark West that such notices did go out on the 2nd September, but it is interesting just how many of the actual creditors did not receive such a notice. There is more I could say about that but Admin's post probably gives you an indication of the situation.

Lis
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Lis on Wed Sep 08, 2010 12:29 pm

Sorry Jock,

Somehow, your post disappeared - I don't know how. No offense intended.
Lis

Lis
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by earthterian on Wed Sep 08, 2010 12:45 pm

It appears people who got off their mark obtained a rebate for the events however most have missed the boat. I am not expecting anything that way I will not be dissapointed Cool
As to my missing post not a problem maybe for the best I would probably have had it slated any-way


Last edited by Jock McArthur on Wed Sep 08, 2010 12:58 pm; edited 1 time in total (Reason for editing : add on remark)
avatar
earthterian


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Admin on Wed Sep 08, 2010 12:59 pm

Jock.

Write to Mark West and tell him you and Dunfermeline ASK are creditors, Now, it is very important to NOT let them get away with this, copy my letter and say you are writing as advised by me. Everyone who has not received the notice do the same, it costs nothing and ensures proper attention is drawn to this issue.

Please copy me in I will try and ensure we have a single point for the proxies.

Jim
avatar
Admin
Admin


Back to top Go down

Re: Psychic News, SNU Spiritualist National Union and Liquidator

Post by Sponsored content


Sponsored content


Back to top Go down

Page 6 of 13 Previous  1, 2, 3 ... 5, 6, 7 ... 11, 12, 13  Next

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum