SPML/LMC anyone claimed for mis selling and unfair charges?

[verycatchy7939]

WebCHeck - Select and Access Company Information

 

An this is the same for capstone

[Crapstone]

http://www.pwc.co.uk/pdf/Lehman_Witness_Statement_1010108.pdf

[verycatchy7939]

cant find a link to mable bar the lehamans link, but then i am not dangermouse

[verycatchy7939]

dangermouse it ment as a compliment

[Dangermouse]

No probs...Sue's link is the first document I have seen mentioning Mable (other than my own)

 

Dangermouse

[Crapstone]

The link I posted lists Mable......

[Dangermouse]

Hi Crapstone

 

Sorry I haven't read it.....will do it now!

[wot2do?]

So there is nothing to show that either spml or pml are in administration then ? Only that the companies that hold all the shares in them are in administration.

[Dangermouse]

Hi

 

Correct, it is not that there is 'nothing to show', the fact is that SPML is not in administration.

 

Dangermouse

[wot2do?]

thank you dangermouse now my head can stop spinning

[Crapstone]

LEHMAN BROTHERS HOLDINGS INC - LEHMQ Annual Report (10-K) EXHIBIT 21.01

 

Shows the parent and subsidiary relationships.

[Crapstone]

Hi

 

Correct, it is not that there is 'nothing to show', the fact is that SPML is not in administration.

 

Dangermouse

 

I think it's only a matter of time until they are though. They are not realistically viable and are possibly being spared whilst the main bodies issues are resolved first and the position clarified.

 

It makes sense that they continue otherwise the vast mess that PWC are trying to wade through would be even deeper and the consumer implications would further add to the tangle.

[I'm the bad guy?]

thanks to Dangermouse,Crapstone,Suetonius and others for the recent posts.

 

Dangermouse, can you post up where you can show SPML is the subsidiary of Mable Commercial Funding Ltd - important issue if it is in receivership and not in administration.

 

await your reply.

 

 

ITBG?

[Suetonius]

Dangermouse, can you post up where you can show SPML is the subsidiary of Mable Commercial Funding Ltd - important issue if it is in receivership and not in administration.

 

LEHMAN BROTHERS HOLDINGS INC - LEHMQ Annual Report (10-K) EXHIBIT 21.01

Shows the parent and subsidiary relationships.

 

Preferred, SPML and Capstone fall under Resetfan, which falls under Mable

[Suetonius]

Preferred, SPML and Capstone fall under Resetfan, which falls under Mable

 

Forgot to say, each one is also a seperate legal entity in its own right

 

http://www.fsa.gov.uk/pubs/discussion/dp07_05.pdf

 

"Whether a deposit-taking or investment firm operates through a group structure or through branches can affect the distribution of, and the impact of crystallisation of, financial risks. Branches are an integral part of the firm, wherever they are located; subsidiaries, however, are separate legal entities and in many jurisdictions a parent company has no legal obligation to support them if they get into financial difficulty. The fact that a firm is part of a group is, however, often seen as a source of strength by its customers."

 

http://www.hse.gov.uk/enforce/enforcementguidesc/identifying/companies.htm

 

"A company registered with the Registrar of Companies, has a legal personality distinct from its members or owners. Therefore the company itself can commit an offence and it is the company that must in general be prosecuted for it. Each company is a separate legal entity and, like a person, a company can die in which case they cannot be prosecuted except in rare circumstances. Legal advice should be sought in such cases."

Edited September 29, 2009 by Suetonius
Added a little more info

[I'm the bad guy?]

thanks,

 

After speaking to CH, Mable Commercial Funding Ltd is not in receivership, there key uses 'R' to state administration. They have requested an extension to file their 363 and accounts - overdue.

 

I believe it is insolvent and with all the other subsideries Restfan Ltd> SPML/PML etc. PWC are stringing it out so that they can get as much of the assets recouped through the courts.

 

PWC have had their extension refused by the courts(1year lapsed), and appealed to extend. Anybody know where PWC are with this, did they get the extension to keep Lehmans UK in administration?

Once it moves from administration to receivership, only the receiver will have the power to recoup the debts.

 

comments?

 

ITBG?

[Suetonius]

thanks,

 

After speaking to CH, Mable Commercial Funding Ltd is not in receivership, there key uses 'R' to state administration. They have requested an extension to file their 363 and accounts - overdue.

 

I believe it is insolvent and with all the other subsideries Restfan Ltd> SPML/PML etc. PWC are stringing it out so that they can get as much of the assets recouped through the courts.

 

PWC have had their extension refused by the courts(1year lapsed), and appealed to extend. Anybody know where PWC are with this, did they get the extension to keep Lehmans UK in administration?

Once it moves from administration to receivership, only the receiver will have the power to recoup the debts.

 

comments?

 

ITBG?

 

An extentsion of the period of administration for Mable was filed with Companies House on 12 August 2009

[I'm the bad guy?]

Suetonius,

 

correction there, the extension was for the filing of Mables' accounts and for the 363, it is already in administration(confirmed by CH).

 

 

ITBG?

[Suetonius]

Suetonius,

 

correction there, the extension was for the filing of Mables' accounts and for the 363, it is already in administration(confirmed by CH).

 

 

ITBG?

 

 

 

WebCHeck - Select and Access Company Information

 

Form 2.31B

filed on 12 August 2009

"NOTICE OF EXTENSION OF PERIOD OF ADMINISTRATION:LIQ. CASE NO.1"

 

Also Companies House Website:

 

Liquidation and Insolvency - GBW1

 

"Administration can end automatically when the administrator’s term of office expires. The appointment of an administrator expires after 1 year. However, this may be extended with the consent of creditors or the court. Any extension must be notified to the Registrar on Form 2.31B."

[Suetonius]

Suetonius,

 

correction there, the extension was for the filing of Mables' accounts and for the 363, it is already in administration(confirmed by CH).

 

 

ITBG?

 

No correction necessary ITBG?

 

Here is a copy of the form filed with companies house, confirming that the period of administration has been extended until November 2010.

[I'm the bad guy?]

Sue,

 

roger that, CH still said they had an extension for their 363 and accounts.

 

I see the administration by PWC extended, you could'nt keep an eye on Resetfan Ltd, I got less quids!

 

 

ITBG?

[littledotty27]

I notice that preferred,capstone spml come under resetfan ltd which are part of mable,but there is no mention of london mortgage company.

 

Would these be under the same subsidaries or some other company?

Any help appreciated

[Suetonius]

I notice that preferred,capstone spml come under resetfan ltd which are part of mable,but there is no mention of london mortgage company.

 

Would these be under the same subsidaries or some other company?

Any help appreciated

 

I remember reading something about LMC closing, I will do some digging (sorry it will have to be tomorrow) and see what I can find

 

(*edit)

 

Found this snippet

 

http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=159500&d=340&h=341&f=342

 

"Last year also saw it close both SPPL and London Mortgage Company."

[Crapstone]

Article: Lehman Brothers in shock brand consolidation U-turn. | AccessMyLibrary - Promoting library advocacy

 

It would seem that it would be under the same. Will keep looking though.

 

You did say that your mortgage had been transfered to SPML. If so then it would now be in the chain of subsidaries.

Edited September 29, 2009 by Crapstone

[littledotty27]

Thanks for that sue,we are still getting letterheads with LMC on and not had any confirmation to say its now with capstone/prefferred.