Dispute at Pillings

[NigelMoore]

 

Another question. Given the Insolvency Practitioner is paid out of the assets of the company being liquidated, what happens if the IP discovers there are insufficient funds to pay for their work? Presumably they walk away. Now what?

 

 

In the case of independent IP's, if they are engaged by a party [whether the company or a creditor], they usually demand a fee of some thousands prior to taking on the case. If they then discover that there are no assets, they just file the case in a drawer for years on end until they get around to filing the dissolution papers with Companies House. They don't 'walk away' exactly, they just don't spend anymore time on the case than is justified by the initial fee received. It doesn't stop the liquidation process. If no IP is appointed anyway, the job is done by the 'Official Receiver' or whatever he's called these days.

[steven wilkinson]

I removed myself from their Facebook page. I don't want to be associated with a business that operates in such a manner! (even though it does look like a very nice marina from here!)

[Janet S]

Does it count as a profile view if you just hover over a posters name on the main page and it brings up their details?

 

If not, someone is spending a silly amount of time looking...and for what reason?

 

Pity they've got nowt better to do!

 

Janet

[Guest]

Does it count as a profile view if you just hover over a posters name on the main page and it brings up their details?

 

If not, someone is spending a silly amount of time looking...and for what reason?

 

Pity they've got nowt better to do!

 

Janet

 

Not as far as I know. I believe you have to actually 'visit' a members profile.

[frangar]

I must admit that due to fat fingers and a touch screen I sometimes click on the posters name rather than the post.....however pillingslock must have fatter fingers than me.....

 

Cheers

 

Gareth

[One sheet]

I must admit that due to fat fingers and a touch screen I sometimes click on the posters name rather than the post.....however pillingslock must have fatter fingers than me.....

Cheers

Gareth

Don't think it's he's finger:)

[Janet S]

From the FB page (I expect I'll be banned from there now!)

 

The CRT letter was a surprise but on a positive side it did give us a reason to get everything out on the open.

 

 

Surprise?

 

Janet

[nicknorman]

We have a sky+ box full of Waterworld episodes to give us our canal "fix" on days such as today. Chanced upon one John Lillie telling us about his new marina at Pillings Lock, whilst standing in a muddy pit which was the marina excavations. Ex son Paul standing at his side. Oh how things have changed!

Edited January 26, 2014 by nicknorman

[Nightwatch]

I must admit that due to fat fingers and a touch screen I sometimes click on the posters name rather than the post.....however pillingslock must have fatter fingers than me.....

Cheers

Gareth

Glad you wrote that. I do the same and think that the person must think I'm right nosey git!

 

Martyn.

[boathunter]

 

They are a speculative play for 'green as grass' mug punters.

 

the idea is, you buy a plot then wait for local authority policy to change and allow residential PP on the site, at which point your £3k 'investment' leaps in value to £300k.

 

In the meantime, the promoter uses your £3k to pay for a few good nights in the pub....

 

 

MtB

* Having sold you a £300 plot of agricultural land for £3k!

Exactly this, I used to do the dividing up for a company. The plots were nominal, but to work out how many house-sized plots could be rammed into the field it had to be laid out with roads and pathways and every plot accessable. If planning permission was ever obtained the whole field would be sold to a developer and the profits divvied up by the sq m. The company never did pay me for the last one I did which says it all.

[MtB]

I must admit that due to fat fingers and a touch screen I sometimes click on the posters name rather than the post.....however pillingslock must have fatter fingers than me.....

 

Cheers

 

Gareth

 

Less chance of that happening if you click on the star or dot to the left of the thread title.

 

This also conveniently takes you to the place in the thread where you left off reading when you last visited it.

 

MtB

[Athy]

We have a sky+ box full of Waterworld episodes to give us our canal "fix" on days such as today. Chanced upon one John Lillie telling us about his new marina at Pillings Lock, whilst standing in a muddy pit which was the marina excavations. Ex son John standing at his side. Oh how things have changed!

Ex-son Paul, perhaps?

[LoneWolf]

Interesting point you make about accrued liabilities.

 

I think the requirements for auditing have been relaxed in recent years though so a dodgy accountant acting for the LtdCo may not be held up to the light for many years.

 

There is at least one Chartered Accountant contributing to this thread. I'd be interested in hearing what they have to say.

 

 

MtB

 

Whether 'provisions' or 'Contingent Liabilities' need to be recognised (included in accounts) or not is covered by Financial Reporting Standard (FRS) 12

see: http://frc.org.uk/Our-Work/Codes-Standards/Accounting-and-Reporting-Policy/Standards-in-Issue/FRS-12-Provisions,-Contingent-Liabilities-and-Cont.aspx

 

 

yes, the requirement to have accounts audited has been relaxed recently, but the group may have been below the previous threshold (it hasn't changed that much) anyway.

Exemptions thresholds here: http://www.companieshouse.gov.uk/companiesAct/implementations/apr2008ExemptionThreshold.shtml

 

 

Someone asked about excessive (not paid out of profits) dividends as well. Excessive dividends are illegal and the liquidator can claw them back.

Note: - we have seen nothing to suggest that excessive dividends have been paid in this case

[nicknorman]

Ex-son Paul, perhaps?

Oops - edited, thanks.

[Nightwatch]

Less chance of that happening if you click on the star or dot to the left of the thread title.

 

This also conveniently takes you to the place in the thread where you left off reading when you last visited it.

 

MtB

with me it's more a case of when I'm scrolling the page, left handed I inadvertently 'click' all over the place. I lost the posts sometimes and realise I have touched the members tag!, oh dear!

[Athy]

Oops - edited, thanks.

My pleasure - this thread is confusing enough already!

[Help at hand]

As regard to the people on here who want to make negative remarks towards Paul Lillie, firstly I would like you to get your facts straight about his parents leaving the marina;

1, There are always 2 sides to a story and if anyone knows John Lillie they will know he has rather a violent temper and is not a reasonable man. So don't believe all you hear about how and why he left the marina after upsetting many boaters and many members of his own family-who at present none of his 3 children speak to him anymore regarding issues with him so work that out for all yourselves. (Personally I feel sorry for his wife who has to put up with his temper tantrums still at he age of 68 years old).

2, Paul did spend many hours and much hard to work both in setting up the business from day one and he has been successful in keeping things running smoothly after many set backs and many "trolls" trying to interfere and saying negative, untrue comments about Pilling's Lock Marina. Paul now employs many very competent and helpful staff here- a few being his family members who all work well in the successful running of the business. (And 1 Law student who has been an asset to the Marina).

3, The majority of the Marina's residents and users are all very happy with the service and they all clearly have very happy, eventful lives so therefore do not need to post silly comments on this Forum. (And they have been very supportive towards Paul).

4, The publicity has majorly benefited the Boat House restaurant which continues to thrive even in this economic crisis plus the boat sales and boat hire and apartment rentals have also continued to increase immensely.

So lets Stick the facts and the subject being the CRT fee and stop getting personal and making un-called for negative, untrue comments on here and all go out and get a life, because surely you all have way too much time on your hands and don't have much of a life if you are continually posting unnecessary comments on here.

 

If any of you have any other doubts please come down the the Marina for yourself and make your own judgments, and please ignore to few "trolls" on here who seriously have issues and need to get over their bitterness and try and say something positive in life! is it a wonder why you have had bad experiences with attitudes like that?

 

Happy Boating!

[RLWP]

Sit tight for another twenty pages today

 

Richard

[Kwacker]

Thanks for another perspective, I knew there would be one. Some people just love to see an issue in monochrome.

(RLWP posted in between - this was meant to reply to Help at Hand)

Edited January 26, 2014 by Kwacker

[Janet S]

Is there time to get some popcorn before it's locked?

 

Janet

[matty40s]

As regard to the people on here who want to make negative remarks towards Paul Lillie, firstly I would like you to get your facts straight about his parents leaving the marina;

1, There are always 2 sides to a story and if anyone knows John Lillie they will know he has rather a violent temper and is not a reasonable man. So don't believe all you hear about how and why he left the marina after upsetting many boaters and many members of his own family-who at present none of his 3 children speak to him anymore regarding issues with him so work that out for all yourselves. (Personally I feel sorry for his wife who has to put up with his temper tantrums still at he age of 68 years old).

2, Paul did spend many hours and much hard to work both in setting up the business from day one and he has been successful in keeping things running smoothly after many set backs and many "trolls" trying to interfere and saying negative, untrue comments about Pilling's Lock Marina. Paul now employs many very competent and helpful staff here- a few being his family members who all work well in the successful running of the business. (And 1 Law student who has been an asset to the Marina).

3, The majority of the Marina's residents and users are all very happy with the service and they all clearly have very happy, eventful lives so therefore do not need to post silly comments on this Forum. (And they have been very supportive towards Paul).

4, The publicity has majorly benefited the Boat House restaurant which continues to thrive even in this economic crisis plus the boat sales and boat hire and apartment rentals have also continued to increase immensely.

So lets Stick the facts and the subject being the CRT fee and stop getting personal and making un-called for negative, untrue comments on here and all go out and get a life, because surely you all have way too much time on your hands and don't have much of a life if you are continually posting unnecessary comments on here.

 

If any of you have any other doubts please come down the the Marina for yourself and make your own judgments, and please ignore to few "trolls" on here who seriously have issues and need to get over their bitterness and try and say something positive in life! is it a wonder why you have had bad experiences with attitudes like that?

 

Happy Boating!

So if its all going that successfully, why arent you paying the money owed which CRT can use for repairs and maintenance. ?

Not silly question I presume....

[Athy]

surely you all have way too much time on your hands and don't have much of a life if you are continually posting unnecessary comments on here.

[quote

 

 

 

 

 

This suggests that you have read them all. If so, that suggests that you have too much time on your hands.

 

 

 

 

 

[Nightwatch]

Miss/Mrs Help at Hand.

 

Thanks for the other side.

 

I for one have never taken comments of the personal too seriously, although they do plant a seed.

 

I'm sure there are many in the marina that are happy with what goes on there and are satisfied with their lot, so to speak.

 

As a fellow boater and contributor to the running of this magnificent network we are privileged to able to use I am, like many others concerned that there is still this outstanding amount of money due to the Canal & River Trust. With your knowledge of Mr Lillie, in your opinion, do you believe he has any intension of honouring this debt?

 

Martyn.

[mark99]

Is there time to get some popcorn before it's locked?

 

Janet

 

 

Thread or marina?

[Janet S]

Greenie for that!

 

Janet