Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I know and it can't be easy sorting this mess out.
Its the Gilbournes that I'm angry with as I suspect they knew what they were doing.
Just saying..... Rant over

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

The FCA must require these sorts of companies, handling other peoples money, to be insured against matters like these

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Mr Levy is just doing a job, sorting out the mess that the Gilbournes created.

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

How can we be required to pay any fees when Bournes broke their contract. Mr Levy's trying to frighten us so we'll be happy to settle for nothing!
The whole thing STINKS, these people had so many companies and were using clients money to fund ventures. Just my opinion of course............

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

What I don't understand is the Administrators fees
whats the point of saying they agreed a fee of £5,000
and then the bill is looking like £55,000
What am I misunderstanding?

£5k is the fixed fee pre appointment
agents costs £2.5k - disbursements @ £1k so far
The rest is expenses and hourly rates for the staff dealing with the administration - 34 hours so far @ £350/hr - soon adds up.

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Just nudging someone who might have an interest in the report.

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

@Remrett88

Why the link AME?

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

What I don't understand is the Administrators fees
whats the point of saying they agreed a fee of £5,000
and then the bill is looking like £55,000
What am I misunderstanding?

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Levy is actually suggesting that the victims of this lot may be required to pay Bournes fees "Contentious issue" dead right it will be:tinysmile_aha_t:

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I also read it as a shortfall of approx £700k
Hate to say it but I think the possibility of getting any money back is NIL.....
However this is looking like negligence and fraud on many accounts
1) no separate clients holding money account
2) using clients money to fund something else
3) no tenancy agreement in Bournes name for the offices rented ( how strange!! )
4) not notifying clients in Aug about Bournes demise as instructed by FCA
the list is endless......

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

[MENTION=52717]Remrett88[/MENTION]

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Couple other bits which I think give the main info for customers.



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[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Proposals are now on the admins site. :/

Urghhh that's not great. Sounds like £700k odd gone missing.


Anyway for ease have jpg'd a few important bits for ex-customers of Bourne.

Sadly this seem to be the main bit.

[peteroche]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Well now we have this I think all those who haven't to date reported this to the fca should. I feel only collectively will any pressure be brought to bear on the fca to act.
on the matter of mis appropriation of funds , I'm definitely going to report a fraud to the sfo via the police tomorrow. Additionally the local mp is a good shout too.

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I have read the letters just can't really work out what it means.....There seems to be some money and assets still to be added. But will we see any of it.....also did I see that Mr . levy has already run up a bill of £55,000....