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Roxburghe Debt Collectors placed into administration.


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Roxburghe UK Limited is the official trading name that has gone bust (net worth -£750k).....

 

The two directors Badri Nathan & Gary Osner are recently appointed Directors of Cograd Limited - formerly known as Roxburghe Parking Services Limited (net wroth -£31k) ; funny enough trading from the same address in Croydon; Mr Osner is no longer a Director of Cograd.

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Roxburghe UK Limited is the official trading name that has gone bust (net worth -£750k).....

 

The two directors Badri Nathan & Gary Osner are recently appointed Directors of Cograd Limited - formerly known as Roxburghe Parking Services Limited (net wroth -£31k) ; funny enough trading from the same address in Croydon; Mr Osner is no longer a Director of Cograd.

 

Don’t forget ZZPS Ltd, which Gary Osner is now showing as his job on LinkedIn.

“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

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Debt collection agency Roxburghe (UK) Limited has entered administration, resulting in 35 redundancies.

 

Roxburghe had been trading at a loss due to sizeable overheads and the company directors made the decision to place the business into administration.

 

The company had previously employed 42 staff at its Surrey office, 35 of whom have now been made redundant. Seven staff have been retained to operate the company’s parking ticket collection business, PCN Parking Services, and process and reconcile receipts and collections from all debtors.

 

Roxburghe operated as collection agency for Talk Talk and the Post Office, and other generalised clients, as well as specialising in parking ticket collections.

 

Asher Miller and Henry Lan of David Rubin & Partners were appointed as joint administrators of the company on 16 September.

 

Speaking to Insolvency News, Miller said: “The directors of Roxburghe made the decision to place the company into administration following a period of steady attrition in collections work. The company was unable to adjust its overhead base in response, leading to it trading at a loss.

 

“We are continuing to trade the business while seeking a sale. We have had several expressions of interest in PCN Parking Services from other collections agencies who may wish to add it as a ‘bolt-on’ to their existing services portfolios.”

 

In February, Roxburghe, debt purchaser HFO Capital and associated debt collection agency HFO Services Limited, were declared “unfit” by the OFT and refused renewal of their consumer credit licenses.

 

The companies made an appeal against the Office of Fair Trading’s (OFT) decision not to renew its consumer credit licence, branding the ruling as “unjust”

 

http://www.credittoday.co.uk/article/17398/online-news/debt-collector-roxburghe-in-administration

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Thanks Michael.

 

The last couple of sentences from Credit Today were either badly researched or were simply regurgitated by them from a directors' press release.

 

The OFT (prior to it being abolished) had informed Roxburghe originally that they were minded not to renew their CCA licence in April 2013 and an appeal was made to the OFT at that time. In January the OFT gave their determination and confirmed that the CCA licence renewal had been refused. Bearing in mind that the OFT had previously notified Roxburghe that they were "minded to revoke" their previous CCA as long ago as May 2011 this could hardly be characterised as a sudden or, presumably, a knee-jerk decision.

 

Roxburghe, HFO Services Ltd, HFO Capital Ltd and Alasdair Turnbull have all now lodged appeals to the First Tier Tribunal (Consumer Credit). Looking at previous case histroies through the tribunal one might expect a result towards the end of the year. However, so intertwined are the four appellants business that this case might drag on for a while yet.

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Let’s hope there’s no ‘pre-packs’ going on.

 

Director Gary Osner, as mentioned, registered ZZPS Ltd (presemably the PS stands for Parking Services) a while ago, and this is the job he now states on his LinkedIn profile.

 

It is misleading – PCN Parking Services is simply a trading name of Roxburghe, not a separate company.

 

This liquidator is the same one undertaking HFO (UK) Holdings’ administration – and that is still ongoing after two years, for no good reason that I can envisage. Let’s keep a close eye on this.

“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

If a Cagger helps you, click their star. Better still, make a donation however small, so that CAG can continue to help others.

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With absolutely no reference to either of the administrators involved in the Roxburghe situation but I was always under the impression that the adminstrators time was dictated by the value of the realisable assets. It always takes longer (and therefore demands more fees) to dispose properly of more valuable assets ;-)

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PCN Parking services are still dishing out NTKs.

 

Just received a Topher related one. Out of time for keeper liability of course.

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If ZZPS was set up by a director (quite a while ago and kept dormant – now reactivated with a change to year end accounting date) with the sole intention of scooping up a prepack, then I would suggest Inspector Knacker take a look. Only IF tho...

 

The fact that the same administrators are brought in as for HFO UK (Holdings) Ltd (like Rox, ultimately owned by Concilian) would not leave me a happy creditor.

“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

If a Cagger helps you, click their star. Better still, make a donation however small, so that CAG can continue to help others.

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