keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,910
Likes: 2,330
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Post by keitha on Jun 20, 2021 9:18:31 GMT
looking at 69235 the company went bust shortly after taking the loan
administrators may actually have lost money on this
Assets totalled £86K including £84K of Book debts, however that was disputed and final recoveries £0
Administrators expenses over £60K
Some assets sold to another company for £30K,but it then went bust too
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,910
Likes: 2,330
|
Post by keitha on Nov 23, 2022 18:41:36 GMT
Well just a little bit of karma.
I'm local to the directors of this.
Was sold off in June 2021, the final return to us was 40% give or take.
The collections company that bought the debt "removed goods for sale" at an auction house local to me, from the catalog it was obvious which items were from this company and which were just general house clearance etc. From what I saw in the auction I believe the directors spirited stuff away from the business as it went bust and before administrators got chance to catalog it.
I picked up a few items for a fraction of their value and I'm in the process of selling them. the very first item I sold made me a profit of just over £50.
Why is £50 of any interest you ask, well it just happens to represent the missing 60% of my initial investment.
Of course, that 60% will be reduced by the tax I pay on my profits
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Post by df on Nov 23, 2022 19:09:42 GMT
Well just a little bit of karma. I'm local to the directors of this. Was sold off in June 2021, the final return to us was 40% give or take. The collections company that bought the debt "removed goods for sale" at an auction house local to me, from the catalog it was obvious which items were from this company and which were just general house clearance etc. From what I saw in the auction I believe the directors spirited stuff away from the business as it went bust and before administrators got chance to catalog it. I picked up a few items for a fraction of their value and I'm in the process of selling them. the very first item I sold made me a profit of just over £50. Why is £50 of any interest you ask, well it just happens to represent the missing 60% of my initial investment. Of course, that 60% will be reduced by the tax I pay on my profits DYOR (do your own recovery) 
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