KevinCollinson
Friday 17 October 2014
Insolvency Scam?
http://www.ZONEtransform.com
Kevin Collinson exposes the vulnerabilities of Businesses and Charities who decide to go down the route of Insolvency.Is it an
Insolvency Scam
? See for yourself.
I suppose you could call this scam really. Solicitor, Andrew Middleton of Towns Needham, introduced Insolvency Practitioner, Kevin Lucas of Lucas Johnson based in Altrincham, into an organisation that wanted a Members Voluntary Liquidation (MVL), but ended up with a Creditors Voluntary Liquidation (CVL).
Well, beyond the technical speak, an MVL would occur when the assets of the business are greater than the creditors that are owed money. However, Andrew Middleton and Kevin Lucas generated a whopping £80,000 worth of fees between them for dealing with only a handful of creditors and a grossly selling a mansion for only 75% of the value of a 3 bedroomed home that was for sale on the same street. This forced the asset rich entity to become a CVL, or an Insolvent Liquidation instead of a Solvent Liquidation.
For More details check out here before you decide whether this is an Insolvency Scam or not:
Video 1
Video 2
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