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

[actionnotwords]

Many thanks .

[enoughisenough]

You're most welcome ANW. Happy reading.

[mrsiphone]

some more reading

SPML Accounts 2008.pdf

[ryde]

Thanks for above,looks at quick sight a bloody unholy mess.

Good news is they state they are unable to produce accounts for SPPL and LMC for the forseeable future so has to be a strike out for these surely to god and a possible one for spml if they cannot produce their subsidiaries accounts which could affect the group total.

They are in neverland with michael,read them and see.

[scedminc]

PML's 2008 Accounts attached.

 

Sced

PML Accounts 2008.pdf

[I'm the bad guy?]

..both SPML/PML showing losses on the p&l account, PML would be balance sheet as well as 'trading' insolvent if it was not for the £25million share issue to Preferred Group Ltd-thought they were dead with no directors?

 

1. STILL need the 09 accounts, as Lehmans went down in Sept.08, so the accounts which will show that there is bugger all in these 2 JAWs, are the 30/11/09 due in August this year. 2 securitisations took place in 08, so this has just added to the net assets, but both made massive losses on p&l.

 

2. Both trading insolvently.

 

3. Huge intercompany debts written off, and 'going concern' special note that E&Y say the affect is unknown such that the thing could collapse at any time- no sh!t.

 

4. I stick to the contention, that these JAWs are both trading & balance sheet insolvent(OP) and if the intercompany creditors called in their debts, they would have been dust from the day Lehmans went down.

 

5. So all the accounts say they are winding down the businesses;

SPPL & LMC are are dust, and look to be wound up.

 

6. SPML & PML as Attia is keeping these alive, what are the odds the 09 accounts due, will be on time? Prosecution continues.

 

7. Keep the pressure up with CIB, they are still 'trading' insolvently and illegally conducting repos.

 

8. Well done all, we got 2 KIA and 2 WIA, follow up the blood trails, and we'll kill off SPML/PML too. Remember anyone with SPPL/LMC should now have enough from these accounts/NO directors etc., to stop any repos in court action.

 

 

 

Makaveli

KwA

[ryde]

itbg/lc

They have stated in the spml accounts they can,t even produce the accounts for their subs sppl/lmc this must render their trading position untenable alone,half this company's accounts are missing apparently presumed lost and probably deliberately.LMC showing capital of a quid,no wonder they have taken so long to produce them.

Both sppl and lmc should be immediately shut down if they refuse for any reason to produce accounts for these companies

Same applies to pml as above.

THEY CANNOT PRODUCE ACCOUNTS FOR ANY OF THEIR SUBSIDIARIES WHICH WERE NOT EVEN MENTIONED IN THE 2007 ACCOUNTS AS FAR AS I AM AWARE.

The whole lot stinks to high heaven.Preferred group own share issue and have no directors.Preferred holdings who own the group have no directors.

Its all mickey mouse stuff,

The pml accounts state that the directors of the parent preferred group have not been able to confirm that they have no current intention of payment of the debt owed in the immediate future thats cos they have no feckin directors.

So both the auditors and sole remaining director who was once a director of this same company have made a false and misleading statement,the last director having resigned on 15/10/09 their statements being made well after this date on or around 24/02/10.

 

 

Edited February 28, 2010 by ryde

[ryde]

Attached Files Preferred Group 2008 Accounts.pdf (277.4 KB, 6 views)thanks to sced

 

EVIDENCE OF NO DIRECTORS CHAMBERS RESIGNED 15/10/09 SHORTLY AFTER SIGNING ACCOUNTS ON 30/09/09

 

It's like a nightmare, isn't it? It just keeps getting worse and worse.

Edited February 28, 2010 by ryde

[supersleuth]

Thankyou for your information supersleuth this helps to explain how this group of companies have all assisted each other by passing debt around the various entities,failing to pursue debts etc one huge tax evasion scheme.

The scandal being as the bad person and others have indicated that the two major creditors of this group storm funding and mable commercial funding both in administration and both Lehman entities have no intention in the forseeable future of calling in their loans(as reported by the auditors in the accounts),so there will be few if any assets to distribute to their own creditors who will undoubtedly include the tax authorities.

Perhaps it would be prudent to report this matter to the tax authorities who may only assess on a company by company basis and may be unaware of the whole structure,do you believe this is a possibility?

 

ANW,

 

The tax man should have enough on them to warrant an investigation of their own volition...but, there's no harm in calling them up to see if they're doing one and if not, asking them, why not.

 

The other thing I forgot to mention is when you read the accounts and they use phrases like "for accounting purposes", do not read that as being the legal position. The legal position "for legal purposes" will be entirely different to the position they take for "accounting purposes". Bear that in mind when reading the accounts.

 

Gotta dash...be back later.

[citizenB]

A few more posts have been removed to the Bear garden

 

Spml/London Mortgage Company Off Topic Posts

 

http://www.consumeractiongroup.co.uk/forum/bear-garden/249537-spml-london-mortgage-company.html

[martdj]

I have received an e mail back from Ernst & Young. They are getting someine to look into it

[ryde]

Rooster-uk

 

What did I say?

 

Told you he'd chicken out!

[ryde]

re JAWS 1,2,3 and 4's accounts have you noticed how CH have obviously told them to submit a full and complete picture with which they have not been able to comply.

IN FACT A SNAPSNOT NOW REAL TIME ONE YEAR ON MUST SHOW A CONSIDERABLY WORSE PICTURE.

ALSO TAKE NOTE THAT THEY STATE THEY HAVE NO EMPLOYEES AND THE SOLE DIRECTOR IS NOT EMPLOYED BY THEM AT ALL BUT IS AN EMPLOYEE OF A COMPANY THAT IS BANKRUPT,WHO SHOULD NOT BE RIGHT NOT ACTUALLY HAVE ANY EMPLOYEES.

WHO ARE THE ACTUAL SHAREHOLDERS OF THIS LOT?

EACH OTHER.?

[I'M THE GOOD GIRL ?]

 

1. STILL need the 09 accounts, as Lehmans went down in Sept.08, so the accounts which will show that there is bugger all in these 2 JAWs, are the 30/11/09 due in August this year. 2 securitisations took place in 08, so this has just added to the net assets, but both made massive losses on

Makaveli

KwA

 

2009 accounts due in August this year ;-)

 

Everyone hear that ???

 

That was the penny dropping for ITBG ? (finally)

[actionnotwords]

Supersleuth thankyou for your kind assistance.I have now turned my attention to the latest sets of accounts which promise to be far more revealing and comprehensive.I also wish to thank enoughisenough for posting the reports of Carmel Butler and Mr Fulcher which I discovered to be a detailed and damming condemnation of the sordid industry in which we have become an unwilling cog.Would anyone here know if these esteemed authors can be contacted? Their combined presence added to the weight of these magnificent expose's would surely clinch the allegiance of the investigative journalist mentioned.I would add one proviso in order to obtain her immediate attention it should be indicated in a prelude to the submission of these reports that this is a billion pound industry that is continuing unabated and un regulated by the weak authorities charged with its oversee.This would be a good attention grabber as a start coupled with the effects of the lehmans crash and the thousands of unknown victims who have lost all they own.

I profess to finding the position of the unfortunate sole Lady director abandoned and solely responsible for these companies to be one of utter mystification.Surely she is aware that in all probability she will be disqualified and face criminal charges and even possibly a custodial sentence for the many discrepancies and the activities of the companies abandoned to her sole responsibility if the authorities investigate the many missing millions.Powerful investors will demand to know what has happened to their money.I would advise her to resign immediately if this is the case and offer her full co-operation with the investigating authorities lest she becomes the real culprits scapegoat..

Please forgive the indulgences of an elderly "silver surfer" but I have several suggestions for our friend the bad person's delightful charges.As a memento of his time here which could be prematurely terminated at any time if his behaviour remains untempered,I would suggest the following nomenclature for his consideration.

I find the names of the sisters of mercy on this site of great appeal.

Ell-enn of whom I believe he has professed affection has an ethereal,spiritual and other wordly quality as does Caro, both in the same vein as Lara Lor-van.I also like the unusual name of Carmel ,all have been champions of our cause and deserve rememberance.

Rumour has it that the bad person has been seeking physcological treatment as he has found himself constantly humming this ditty to himself of late.

I feel it in my fingers

I feel it in my toes

Jackals are all around me

And so the feeling grows

 

poor boy, I believe he's suffering from a persecution complex,please leave him be,he has great responsibilities.

Edited February 28, 2010 by actionnotwords

[actionnotwords]

LC

Don't forget to bait the trap for your adversaries, although I am in agreement with supersleuth especially now in the knowlege that the site is under constant surveillance,that all are welcome here,their true loyalty can be easily established by their response and participation in the processes that need to be progressed.

To satisfy curiosity where does the term LC originate from and what is it's meaning and significance?

Edited February 28, 2010 by actionnotwords
spelling.

[agatha c]

Hi, enjoying the banter

 

Fos looking into my case, but if companys go down, no redress for me, could post up a thread but if you look back after repossession, no one seems to know where to go, posts ignored. It's true. only supersluth, This could be you. I do not like being a victim, more should be said for the victims, I hate the time lapse that help is out there now, what about

the familys that have lost their homes. If something is wrong then its wrong. LMC pushed us into losing my home. I have info, but would be identified.

 

It can not be right to steel from a person who has been repossessed and it seems like they are getting away with it.

 

If your repossessed you are treated like ****, and as I said I had a mortgage for 34 years.

 

I could do my own thread, but will not get help and support.

 

Getting to the bottom of this has been my saviur, dont want to go to another thread, believe no help there. No one seems to know or care after repos. We all should fight for the familys that had no knowledge of cag forget limitations, what is wrong is wrong.

[agatha c]

rant is over but can i have some support.. it could be you

[ryde]

Agatha c

forget the idle crazy talk just a form of release here it will all get kicked out anyway.

There is a serious theme running below the superficiality.You have done the right thing involving the fos despite what some would say,this is from my own personal experience anyway.

You may well have a claim despite repo the gmac repos were told they could claim by the fsa, how you could evaluate such a claim with the stress and everything else involved is difficult to know.

You pose an interesting question.Your mortgage was obviously securitized by lmc so the beneficial title ie the rights to all repayments were held by the spv.When you were repoed they would have been paid the price they paid for your mortgage it would be assumed ,so in reality your claim could well be against them I would think.Comments are invited this is an important dilemma you have raised here which many will face.

If it was decided that your case involved unfair charges which were added to your real arrears and resulted in repo where does the owner of the loan stand then?and is it the spv or lmc?who is liable?because the paper legal titleholder lmc reoed your property on behalf of the spv.

Would you know who the spv was?

Edited March 1, 2010 by ryde

[I'm the bad guy?]

agathac, was your mortgage with London Mortgage Company Ltd?

 

roughly, what month & year were you repoed?

 

did you always make your payments to LMC limited, via capstone?

 

was mortgage contract/deed in the name of LMC Ltd?

 

 

 

 

 

 

 

Makaveli

KwA

[caro]

I have better things to do than keep moving off topic posts to the Bear Garden so have unapproved a number of them. Abuse isn't allowed in there either.

 

Please abide by site rules which are linked here in case anyone isn't familar with them. http://www.consumeractiongroup.co.uk/forum/forum-rules-please-read/9-forum-rules-please-read.html#post16

[ryde]

Hanging on in quiet desperation is the English way

The time is gone, the song is over,

Thought I'd something more to say.

[Suetonius]

Hello Agatha,

 

It is always a good idea to start a thread. Different people have different problems, so the advice for one person might not be good for another.

 

Even if SPML et al were all to close today, dependant upon the circumstances you might still be able to claim and more importantly receive compensation from:

 

FSCS > Home

[enoughisenough]

Have contacted Heather Brooke. Hopefully something will come of that...

[zither]

WOW!, this whole thing is enough to give you a headache!