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Anonymous

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Steve Farrell  says:

Directors of collapsed adventure firm set up new companies using similar name

The directors of a motorcycle adventure firm which folded after keeping £120,000 of charity donations have each registered a new company with a similar name. Global Enduro went into administration after failing to pass on customers' donations to charity dating back to 2011. The donations were taken by the firm on the understanding they would be distributed between four charities including Sentebale,...

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  • Posted 2 years ago (19 February 2013 10:07)

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jahtlR

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Jun 12

Posts: 14

jahtlR says:

If they cannot repay the money stolen and are made bankrupt then they will be disqualified from being directors of ltd companies

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triday12

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Jun 06

Posts: 16

triday12 says:

I'd find it very difficult to go on one of their tours, but this thing happens all the time.

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Rogerborg

Joined:

Sep 09

Posts: 905

Rogerborg says:

This has got to stop

A company that I used to work for has been phoenixed not once, but twice (at the last count).  Both times the management deliberately ran it into the ground, filled their pockets, walked away, just started over, finding new fools to lend them money.  Both times, the staff and the creditors got screwed big time.

If that isn't criminal, I really dont know what is.

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billysollocks

Joined:

Feb 09

Posts: 515

Conmen. Glorified thieves, nothing more, nothing less. I hope their next shit is an angry hedgehog with syphillis.

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rgvyan

Joined:

Feb 08

Posts: 55

rgvyan says:

Hang about?

So these additional companies were actually set up BEFORE the original  'Global Enduro' folded and they are dormant? Hardly Phoenix businesses then are they?

Don't get me wrong, what they appear to have done is deplorable but smells a bit like tabloid sensationalism this chaps...

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snev

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Jan 11

Posts: 8637

snev says:

bankruptcy...

Is just a vehicle for dishonest people to walk away from any responsibility. Using charity donations and not passing them on to the very people that they are aimed at is Plain fucking disgusting.

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Bob_1

Joined:

Feb 05

Posts: 223

Bob_1 says:

It's The Same Old Story

Nothing changes. After George White went into administration a company called Megamotorcycles acquired ex GW stock from administrators Deloitte and access to some of the George White properties. It appears to be run by ex GW people too. Could it be that this company is effectively a re-incarnation of GW, with their stock and without their overheads or their creditors?


All perfectly legal of course but is it fair or just? Global Euro is just another case where administration appears to benefit one party.

Administration is supposed to give a company some protection from its creditors while the appointed administrator does his job, deciding whether keep the company trading or wind it up. He is supposed to act in the creditor's interest though. It was never meant to allow the directors to walk away and set up shop the very next day in someone else's name. Unfortunately that is what can happen. Time for a rule change methinks.

[This Reply has been modified by the Author]

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simonsith

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Feb 13

Posts: 3

simonsith says:

Two clowns ripping everyone off!

It's obvious what they've done. Been creaming off money from the generous charity donations from day one, buying bikes, porsches and other 'leisure' items. Then when 'business' is not so good and fewer people are on the trips the cream isn't there to fund their lifestyles, so that's where all the charity money goes. Then the inevitable happens and they go bust – not only owing the unfortunate people who have paid for trips and suppliers money – but also owing charities money which should never have been in their grubby, fat, little, thieving hands in the first place. The charity money should have been ringfenced all along and not thrown into the pot.

The whole thing stinks. They of course knew things were going down the pan long before they registered the new companies. Registering a new company is part of the process of going bust.

If there were no charity donations this would just be another business that's gone to the wall owing people money. But this is different. As soon as you've got peoples trust and charity donations in the mix it becomes serious.

I hope the charities and the law catch up with them both and makes them pay back what they owe.

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boybilly1967

Joined:

Dec 08

Posts: 1301

boybilly1967 says:

The clown is on facebook, the picture is his current FB one.

 

https://www.facebook.com/nickcapsey?ref=ts&fref=ts

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racingfan99

Joined:

Oct 10

Posts: 484

racingfan99 says:

Let's just hope nobody risks booking any holidays with them. Shame on them both, utterly disgraceful. Keeping money that has been genuinely donated by decent people to a needier cause than their own......(polite) words fail me.

The system is very wrong for allowing this to happen.

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