Taking Cabot to court for failing to supply HSBC CCA + Distress etc

[Seahorse]

OK.... Atlas, a dormant company, is relevant because.........

 

I'm missing something here.

[pmhcfc]

OK.... Atlas, a dormant company, is relevant because.........

 

I'm missing something here.

 

Click on the Atlas link.. The guy registered as company director at the Dormant London addy is also company director of the company in that Atlas link ... Mr Stockton Birthisell ...

 

Sorry Tbern.. not meaning to hijack

[Rhia]

Oh I'm sorry pmhcfc. Je ne comprend pas. The Cos House bit was after hours so don't know what that link was and couldn't find any real details on Atlas. Need it spelling out I'm afraid....

[pmhcfc]

Oh I'm sorry pmhcfc. Je ne comprend pas. The Cos House bit was after hours so don't know what that link was and couldn't find any real details on Atlas. Need it spelling out I'm afraid....

 

Name & Registered Office:

ATLAS CORPORATE SERVICES LIMITED

WALMAR HOUSE 5TH FLOOR

288 REGENT STREET

LONDON

W1B 3AL

Company No. 03717497

 

Status: Active

Date of Incorporation: 17/02/1999

 

Country of Origin: United Kingdom

Company Type: Private Limited Company

Nature of Business (SIC(03)):

7499 - Non-trading company

Accounting Reference Date: 31/12

Last Accounts Made Up To: 31/12/2005 (DORMANT)

Next Accounts Due: 31/10/2007

Last Return Made Up To: 17/02/2007

Next Return Due: 16/03/2008

Last Members List: 17/02/2007

Previous Names:Date of changePrevious Name30/03/2005VENTURETECH CORPORATE SERVICES LIMITED

12/03/1999CABOT FINANCIAL (EUROPE) LIMITED

[TideTurner]

InKogneeToh,

 

Nice Avatar

 

[/url]

 

Tide

[Rhia]

My oh my oh my. Now this greasy little company is revealing it's tentacles. Good work.

 

 

I know that Nevis, Cyprus and presumably the rest are centres of serious offshore (may I even suggest money laundering) activity. I once went to Nevis. It was brilliant. We landed in a small aircraft Indiana Jones style onto a runway full of potholes and the plane bumped down onto the airstrip and screeched to a halt in front of the customs house. The "terminal" was a wooden shed with a long counter and few fly blown Government information posters decorated the walls. It was steaming hot and a really big Customs guy looked at my passport and said "What you doin' in Nevis lady?" (Sorry I'm not telling what I was doing but it was on official business).

[InKogneeToh]

InKogneeToh,

 

Nice Avatar

 

 

Tide

 

OMG!! There's a whole flock of me now!!

[TideTurner]

Atlas look like a virtual office to me.

 

Rates

 

(All prices in GBP)

DIRECTOR SERVICES

Directors / Secretary / Shareholders quote@atlas-corp.com

based in Dubai, Cyprus and Nevis

Trustees based in Dubai, Cyprus and Nevis. quote@atlas-corp.com

Irish resident Director / Secretary / Shareholders quote@atlas-corp.com

Corporate Directors / Secretary / Shareholders

Directors quote@atlas-corp.com.

Footnotes:

(a) Rates vary according to the number of appointments per customer. Any price quoted is per officer per annum.

(b) Rates are considerably higher for Irish resident Directors than Directors in other jurisdictions as Irish Directors can only hold 25 appointments.

DISBURSMENTS

Notary GBP 30 per document

Apostille GBP 30 per document

Legalisation at Embassy or Consulate

Consulate / Embassy

Prior legalisation required

Consulate / Embassy Fee

Brazilian Consulate

Notary & Ministry of Foreign Affairs

25.00

British High Commission

Notary

30.00

Bolivian London

UK Foreign Office

80.00

Cyprus Ministry of Foreign Affairs

Notary

30.00

Estonian Consulate

Notary & Ministry of Foreign Affairs

30.00

Foreign Office London

UK Notary

30.00

Hungarian

Notary & Ministry of Foreign Affairs

30.00

Polish Consulate

Notary & Ministry of Foreign Affairs

50.00

Russian Federation

Notary & Ministry of Foreign Affairs

25.00

UK Apostille

Includes UK Notary

80.00

UK Cert. of Good Standing

N/A

150.00

Ukraine (Cyprus)

Notary & Ministry of Foreign Affairs

70.00

Ukraine (London)

UK Notary

170.00

USA

45.00

Courier GBP 40

Express Mail GBP 15

BANK ACCOUNT OPENING

Bank account opening assistance GBP 250 + ad hoc charges

Bank signatory services GBP 500 pa - plus an additional fee if the

number of transaction exceeds 100 per year.

OFFICE SERVICES

Mail forwarding and Registered Office

Country

Charge to Client

UK

125 + 25 postage

Cyprus

125 + 25 postage

Nevis

125 + 40 postage

Ireland

125 + 25 postage

Dubai

125 + 25 postage

Shared company phone line GBP 250pa

(price increases if high volume of calls)

Dedicated company phone line GBP 500pa

(price increases if high volume of calls)

Preparation of corporate documents GBP 30 per document

Document translation

Country

Charge to Client

Russian

25 per page

Ukranian

25 per page

German

25 per page

French

25 per page

Dutch

25 per page

Greek

25 per page

Portugese

25 per page

Officers Attending Meetings Abroad GBP 300 per day +all travel, accommodation

and reasonable out of pocket expenses.

Board Room facilities GBP 100 per day

Secretarial Services for Board Room GBP 30 per hour

PREPARATION OF ACCOUNTS

Country

Audit Exempt Non-Trading

Audit Exempt Trading

Audited

Ireland

GBP 300

GBP 550 Basic

Variable

UK

GBP 300

GBP 550 Basic

Variable

Country

Dormant

Audited

Cyprus

GBP 275

GBP 500 Basic

 

 

 

Anyone fancy a holiday?

 

Tide

[InKogneeToh]

There is no methodology they are greedy businessmen looking to make a fast buck and so end up debt collecting.

 

Hi Rhia

 

I think their 'debt life-cycle methodology' refers to the way that they buy 'near statute barred' debts (near end of life-cycle) and then extend their value and their life-cycle by coercing/tricking/bullying debtors into admitting the debt and therefore renewing the 6 year limitation period!

 

Regards, Pam

[TideTurner]

Cabot Financial hired Lexicon to sell group

21/10/2005

 

 

 

 

Cabot Financial, the debt recovery firm, has hired Lexicon Partners to advise on a sale of the group. The company has an estimated asking price of £250m. Barclays Private Equity, the buyout arm of the UK-listed bank is Cabot's financial backer.

[InKogneeToh]

Name & Registered Office:

ATLAS CORPORATE SERVICES LIMITED

WALMAR HOUSE 5TH FLOOR

288 REGENT STREET

LONDON

W1B 3AL

Company No. 03717497

 

Status: Active

Date of Incorporation: 17/02/1999

 

Country of Origin: United Kingdom

Company Type: Private Limited Company

Nature of Business (SIC(03)):

7499 - Non-trading company

Accounting Reference Date: 31/12

Last Accounts Made Up To: 31/12/2005 (DORMANT)

Next Accounts Due: 31/10/2007

Last Return Made Up To: 17/02/2007

Next Return Due: 16/03/2008

Last Members List: 17/02/2007

Previous Names:Date of changePrevious Name30/03/2005VENTURETECH CORPORATE SERVICES LIMITED

12/03/1999CABOT FINANCIAL (EUROPE) LIMITED

 

Hmmm!! Well at least they're very 'green' - they do love to recycle!!

[pmhcfc]

...

[elizabeth1]

Hi Rhia

 

I think their 'debt life-cycle methodology' refers to the way that they buy 'near statute barred' debts (near end of life-cycle) and then extend their value and their life-cycle by coercing/tricking/bullying debtors into admitting the debt and therefore renewing the 6 year limitation period!

 

Regards, Pam

I agree Pam - seems to be the way these thugs are operating?

[pmhcfc]

Cabot Financial hired Lexicon to sell group

21/10/2005

 

 

 

 

Cabot Financial, the debt recovery firm, has hired Lexicon Partners to advise on a sale of the group. The company has an estimated asking price of £250m. Barclays Private Equity, the buyout arm of the UK-listed bank is Cabot's financial backer.

 

Tide- um, Im not trying to be funny- honestly I'm not..But what you're posting re Cabot, I've kinda done already-- This particular bit is to do with the sale of 65% of Cabot being sold to Nikko Co-operation. I/We on here have already carried out a lot of this 'research' ...Please dont think Im getting at you, because I'm not- Just wanted to advise you to read this thread and my 'Information (or is it Info) on Cabot tread also .... It is great that you're getting the Cabot bug though!!!

[FANTASY CHARGES]

Hmmm!! Well at least they're very 'green' - they do love to recycle!!

 

 

JUST ENtrered

 

"288 REGENT STREET"

 

into google and got 1,390 results sorry no time to check any more

[andrew1]

I just had a look over the accounts at some of the active companies the aforesaid 'stockton' is Co.secretary for.........interesting !

[FANTASY CHARGES]

I just had a look over the accounts at some of the active companies the aforesaid 'stockton' is Co.secretary for.........interesting !

 

DON'T FORGET TO stick the postcode of 288 regent strret in this link and "turn the handle"

 

W1B 3AL

 

Information Commissioners - Data Protection Public Register

[Seahorse]

 

????????????????????????????????????????????????

[andrew1]

Before we get too excited about this address and posting totally innocent company names , there are loads of companies operating out of these buildings, they are all single operating companies working from a myriad of offices and totally unrelated. These are big buildings full of offices and businesses.

[Rhia]

Was about to say the same thing Andrew1. These buildings on Regent Street are massive and all sorts of companies. Suspect Cabot won't have any delaings with contact lens although they could possibly do with some to read the contractual laws properly.

[FANTASY CHARGES]

Was about to say the same thing Andrew1. These buildings on Regent Street are massive and all sorts of companies. Suspect Cabot won't have any delaings with contact lens although they could possibly do with some to read the contractual laws properly.

 

YES we saw the contact lens assn --can't keep up to date with all the "history" of the thread as we monitor a few hundred threads

 

These buildings are at least 6 stories tall (just looked at the pics)

wuz only trying to elp mi lord

[tbern123]

Thanks for the rep points everyone... sorry, I only received notification today

[pmhcfc]

Was about to say the same thing Andrew1. These buildings on Regent Street are massive and all sorts of companies. Suspect Cabot won't have any delaings with contact lens although they could possibly do with some to read the contractual laws properly.

 

hmmm

[skintandbroke]

Hi

I thought i'd read this link to see if it could help me, and i read the first 5 pages and then i thought i'ds skip to the end to see if the result was good, but nooo, really confused about your excitement and talk of foreign lands, so got lots of reading to do to catch up.

 

not sure if 'good luck' is a bit late now, but hope it all works out right in the end!

[tbern123]

Big thanks to Andrew1 for the additional info (Sorry, CAG won't let me give you rep points at the moment)

 

This is a work in progress of my next letter to Cabot... I thought I would post it on here now, so that they know I am still here...

 

Dear Mr Maynard

 

 

Firstly, please accept my sincere apologies for the delay in providing you with a written response to the letter from your legal representative, Hodsons Solicitors. I would like to take this opportunity to inform you that I intend to delay the instigation of litigation proceedings in relation to the alleged Barclaycard account, your ref: 1173130.

 

 

I have taken the decision to delay litigation, as I intend to make a formal complaint to the Financial Ombudsman Service in relation to the conduct of Cabot Financial (Europe) Ltd and in relation to the way my complaint has been handled.

 

 

I first contacted Cabot Financial (Europe) Ltd on 8th September 2006. I am extremely disappointed that after six months, I find myself still being forced to write to you. I understand that Cabot Financial (UK) Ltd, do not believe that they are the creditor as defined in section 189 of the Credit Consumer Act 1974.

 

 

I understand that this opinion has been formed as you feel that only the rights and not the duties of a consumer credit agreement is assigned and that this belief is based on section 136 the Law of Property Act 1925.

 

 

This view is further reinforced in the article published on the Cabot Financial website by your colleague Mr Glen Crawford, entitled “Legal Misconceptions in Debt Sale and Administration”. Mr Crawford, quotes the Under-Secretary of State for Trade and Industry, as saying:

 

 

"When explaining the new category of licence during parliamentary debate, the Under-Secretary of State for Trade and Industry said that the category was intended to cover those who “purchase portfolios of existing loans and administer them”.

 

 

Just as Cabot Financial (UK) Ltd feel they are not the creditor, I feel that they are. I would like to take this opportunity to fully clarify my thoughts.

 

 

Mr Crawford is willing to accept the opinions of Mr. Gerry Sutcliffethe Under-Secretary of State for Trade and Industry, you should also be aware of the other comments he made:

 

 

“There is a problem with the existing coverage of the licensing regime. It is not clear that businesses that purchase a portfolio of existing loans require a licence. The Department of Trade and Industry, the Office of Fair Trading and advice bodies have received complaints about businesses that purchase existing debts. Consumers are often confused about who is responsible for the contract and what controls there are on those businesses.”

 

He continues...

 

“Hon. Members will see that the definition of consumer credit business now covers businesses relating to the provision of credit by a person, or otherwise being a creditor. A creditor is a person who provides credit under an agreement or a person to whom the rights and duties under the agreement have passed by assignment or operation of the law. The new definition ensures that businesses will need a licence even if they are no longer making new agreements. They will need a licence if they only administer existing agreements by taking over the rights and duties of the creditor. The same logic applies for the new definition of consumer hire business.”

 

Mr. Gerry Sutcliffethe Under-Secretary of State for Trade and Industry, also states:

 

 

“Under clause 23, a debt purchaser who became a creditor or owner when he purchased the loan would require a licence.”

 

Source: House of Commons Standing Committee D Tuesday 28 June 2005.

In summary the source quoted by your colleague Mr Glen Crawford, has stated on record that a debt purchaser, (in this instance Cabot Financial (UK) Ltd) becomes the creditor when they purchase the loan.

 

Furthermore, as the Chairman of the Debt Buyers and Sellers Group “The Voice of the Debt Sale and Purchase Industry”. I presume, you are aware that your colleague Dr Roger Lucas of the Lewis Group and of the Debt Buyers and Sellers Group is quoted by Credit Today Online Magazine as saying:

 

"When we take assignment of debts we stand in the place of the original creditor so it’s only right we should have the same obligations and rights."

 

This statement is contradictory to your own article published on the Cabot Financial website, in which you state:

 

“In addition, Citizens Advice is currently pursuing a series of court cases which challenge the right of debt purchasers to pursue a regulated debt through the courts. They argue that according to the definition of ‘creditor’ under section 189 of the Consumer Credit Act 1974, a purchaser must prove that he has acquired the duties as well as the rights to a consumer credit agreement before he can become the ‘creditor’ and therefore pursue the right to sue for the debt. This goes against the general industry belief that section 139 of the Law of Property Act 1925 applies in the case of debt purchase, which only requires that written notice of the assignment is given to the debtor in order to complete a legal assignment of a debt, and again has serious implications for the industry”.

 

I would also like to refer you to the following court case UNADKAT & Co (ACCOUNTANTS) LTD And ASHOK BHARDWAJ .V. The TREASURY SOLICITOR [2006] EWHC 2785 (Ch) paragraph 2

 

This case confirms that by virtue of of a debt assignment, the interested party becomes the creditor.

 

In summary I have provided three sources to support my belief.

1. Mr. Gerry Sutcliffe the Under-Secretary of State for Trade and Industry (previously quoted by Mr Glen Crawford)
   
2. Dr Roger Lucas of the Lewis Group and of the Debt Buyers and Sellers Group (of which you are the Chairman). I also understand that Dr Lucas is / was the Vice President of the Credit Services Association, of which Cabot Financial is a member.
   
3. Legal precedence.

I trust that these examples establish that Cabot Financial (UK) Ltd are the creditor for the purpose of the Consumer Credit Act 1974. I also hope that you will reconsider your legal status and the responses that will be provided in future.

 

I will post my full response, once I have finished it