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I think what’s gone on is outrageous but it’s not the fault or the responsibility of the present management. Finablr was comprehensively bust before they got it. There was no money or prospect of any to pay to shareholders. The new company is a different corporate entity. I can’t see any chance at all of Finablr shareholders getting a payment of any kind. They can’t sell their shares so might as well keep an eye on them once a year or so but that’s about it, sadly. It’s wrong, it’s bringing London into disrepute but these excesses have been increasingly prevalent since Big Bang. Corporate and personal honesty has gone and greed is all that matters. It’s the same in politics.
"A law firm called Skadden were appointed by some of the Finablr board to investigate potential claims."
If they are appointed by the board, you can expect they will do whatever the board wants....They pay their bills.
You can always hire a legal team, conduct your own investigation and start suing them. One by one, institutions and individuals. That's the theory. In practice, with multilayered international scams like FIN there is a very little one can realistically do. They have unlimited access to the best lawyers too. It would take years. And even if by some miracle you proved certain things and won, you still need to get paid. And that's another story because the money is long gone.
Surely the people to blame in all this are the allegedly crooked Directors and officers of Finablr who are suspected of having stolen the money that forced the company into liquidation? And, to only a slightly lesser extent, the financial institutions that brought it to the market and sold it to investors through the LSE. Is no one going through the accounts properly, of companies seeking a listing in London? Is the FCA asleep at the wheel, or short of the powers it needs? If Carson Block can spend a few weeks going into the accounts of Finablr’s sister company NMC and decide on the strength of his research that it’s crooked, and take a big short position to back his view, surely the banks which support the company’s introduction to UK investors should be able and willing to undertake research of a similar quality before recommending it for sale to investment clients? It seems to me arguable that they are guilty of a serious lack of due diligence. Why is nothing done?
I think that, since the discovery of the shortfalls in Finablr’s accounts two years ago, there has been little prospect of equity investors getting anything back. Whether some of the stolen money will ever be traced seems doubtful too. The systems outage at Finablr, to correct which they appear to have paid a large ransom to the culprits two months later, occurred two weeks after the Muddy Waters (Carson Block) review of NMC. Finablr was uniquely well-placed to move money round the world from the Middle East and a two-months systems outage should have enabled software experts to cover their tracks, shouldn’t it? Though, of course, the systems outage and the missing millions may be entirely unconnected.
Thank you for that information how can Robert Miller and his crooked mates sleep at night
It looks like we have lost our money
Hopefully Miller who did respond to a recent email from me about Fin with no answers go and work for a company with no future like his soul
Not sure if it works the same but if anybody has any experience with running a limited company and debt recovery and Companies House in general (I do), you will know that there is nothing one can do to prevent the company being dissolved and removed from Companies House. I was really surprised when it has happened to us for the first time. A customer owed us money, we went through the whole process, went to Court and obtained a judgement against him. In the meantime "First Gazette - notice for compulsory strike-off" appeared on the Companies House website. Apparently it happens when accounts are overdue. We obviously objected. At first, Compulsory strike-off action has been "suspended" and then "discontinued". In the meantime we started recovery process instructing High Court Enforcement Officer to collect the debt (without success). The debtor simply moved out from the premises and disappeared. No tangible assets in the company, debts only. It turned out that the same company had 14 judgements against them from other creditors. We consulted the other creditors - the same pattern of dishonest Directors deliberately accumulating as many debts as possible with a sole purpose of liquidating the company in the future became clear. In the meantime "First Gazette notice for compulsory strike-off" appeared again. We objected (again) and so did the others. Compulsory strike-off action has been suspended for the second time. There was nothing we could do, we could not sue the director s because the company is a separate legal entity from its owners. We were told by our legal advisors that in theory we could sue the Directors personally for actions they carried out on behalf of a company (Fraud, Misrepresentations and Insufficient Record Keeping etc) but it will be extremely difficult to prove and win (and costly). Another month or so passed by and CH delivered a final blow - Final Gazette dissolved via compulsory strike-off. We were told that this is a standard procedure by Companies House when the company fails to submit the required documents. We were also told that HMRC and/or creditors can apply to reinstate the company to the Companies House Register if it has already been struck off. They can then force it into compulsory liquidation in an attempt to reclaim the money they are owed. All in all, we made a commercial decision and decided to cut the legal costs and write the debt off as there was a very little chance that there would be any assets left. The worst thing is that those fraudulent Directors successfully do it every 3-4 years taking more service on credit, accumulating more debt, disappearing, liquidating another incorporated company, and ripping off more businesses. And there is absolutely that can be done. Apparently it is "your risk" when you decide to supply them on credit in good faith. I guess it was "our risk" too when we bought shares of FIN based on information that was given to us at the time of purchase....
This makes you wonder why Our ceo Robert ****earse can't be bothered sending in accounts, because Prism and Strategic will not be happy with him, and once word gets around of their incompetence, it should impact their other businesses ie WIZZ AIRLINE
it makes no sense
That didnt work.
Try this link, its the top PDF:
https://find-and-update.company-information.service.gov.uk/company/11485051/filing-history
According to this its 2 months from 11/01/2022, so wont go until 22/03/2022.
I wonder if they own any property.
https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/rp_vIwxEbb3SAYZxmCLnO1RAkBykuXV9zBTZzsPAmrM/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3JKRJIIG7%2F20220124%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20220124T232534Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEFMaCWV1LXdlc3QtMiJHMEUCID927UJea3pJuW7w4KhhBkb2CEuQyTAv5n5Rdi3mbjoTAiEAnkPjXAUvQjOxcXTT1zJByU1oFNQ%2Fd4uJn8VGiVRFAfEq%2BgMIfBAEGgw0NDkyMjkwMzI4MjIiDJwd1wB8IZlc3nQeJirXA9bE%2BZ2u7XqYaKn04UYRG%2B%2FiDyPkkOQ6sQEIL%2FlbyVFtMJwxX%2B76hqUABNbRHcbLKeGkyk%2F9XFc4zB7D4UT9sb%2BvgAqf36yRjMOzSOuOJTaYFTg5iQOZvWe8yFnJOBmhhtWANy9asc7pigOByKOwRW%2B9gM4wR4HsOTc8BHzEVLXBrJkv4NqGs7yiZ14OqvJUyOW91tWUKrw799F3Wi5tIKdxtPXQvlPkwQfYNZavF40rVXaC4LwdaCMzuOcL8AIK6d9xu74Cxoh4HVZF8VivHh2qmZEE9CFmpRhG71FRXeyO5jxNS3ru2hDSAeBpEcBYRYipo6X18uRl9qnPLL2NTNlSoX6RWP%2FVuG7fXXmwfU2ro65jqJ9lwHVKPunkQ%2BTYyXkVAmrjCD3Vu980SUh5qhetLGU%2FAd4cq2BZLF****GJX7w5ulI2Q9NVXk8vJ8qw3aOJGauHoEnQsGzDSEgE5ecvBv3S6zE6N9KqbzuvNHijglX%2BDwHXlU%2Fm%2B2CEdwJLXhbEnkEe0UHx1aRrO9E%2FW%2FrlQ9hVCvJm%2Bbo%2BkQoTxTlgNIECIdfySQx8bN4Wvj%2F%2Fuc%2FMJrgtxXvD1PJu34f9pA4xic10sBCDUV0qPnHIGvcozUP%2BWKp4TDD03ruPBjqlAfktRaDJQsV8yFZ0y9ugZXGkBY73ADrExi7KgPrccxGt7kq669Bp2U5TR6Z5TM%2FEgbXXyoq4GsK1mBuXqSiXZsqXXrkzeilchYnGijZ%2FvR%2FdRxNAqrI1bMXsuHKgjMLKFPr4ajUoanrH8HeqH%2B5h2%2BjVkAWv3N%2FLhAnP70Uzi9Fk7p29xhiodaHxYIhQHfjC6uF6yk0GSmRHvP6VEn%2B7f6wfg%2FOe4g%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&X-Amz-Signature=a29b545fc614affe3eec6868c1a6913ae2f2ae1c9cae35a918184de6e5041403
bona vacantia
(in the UK) goods without an apparent owner, such as treasure trove or the estate of a person dying intestate and without heirs, to which the Crown may have right.
Not looking likely, but finablr now owned by prism and Royal strategic
I would have thought this would impact on them
Not a happy reading, I guess this should go to bad debt unrecoverable. I was hoping we at least get something back.
They didn't say that they had
They said if fin don't supply documents, dissolvement of the company will follow
Just heard from companies House fin will be struck off in 2 weeks and then dissolved unless they supply up to date accounts
Same They send to me
This was the same reply I received from them when I complained last week
This is the reply i got from companies house.
I just hope now that some other entity will object, there has to be more creditors who do not want to see Finablr PLC being dissolved.
We are unable to register your objection without documentary evidence to support your complaint.
Please provide evidence such as invoices, court documents, general correspondence or emails between you and the company, to show that you are actively pursuing them for an outstanding debt.
I'll repeat what I found in my research. Neither am I a lawyer .....
Any interested party can submit a formal objection to the impending compulsory Strike Off action. That could mean directors, shareholders or even company creditors who don’t want to see the company dissolved before they’ve been paid.
If companies house asks for proof (is that actually what they said?) Then just reply that you bought shares, invested in good faith and that you are a shareholder.
There must be plenty of institutional shareholders interested in keeping this going.
No problem Indomie
If no- one else is interested in posting anything about this then sobeit we will all lose our money
Why do I bother?????!!!!!
I have just heard from companies House, because of my objectio to Fin being wound up they will reserve judgement for 14 days for me to send in proof as to why it will not be wound up
I have no proof apart from being a shareholder of Fin
Any legal people shareholders of Fin, contact companies House with anything legal about this
I believe shareholders don't have such a power to change something with objections. I am still positive. Probably next two months should bring news from prism and strategic partners. Holding just couple k shares. Bought them low and sold high.yes mistake was when I bought back on next- last rise around 20p. As well don't understand if they rebranded Finablr to Wizz financial why they didn't make changes in register of companies . If it will be struck off what will happen to wizz? Hopefully all be sorted before big "April "
Already registered not for them to dissolve so did this last friday
Getting my years mixed up, sorry peeps; what a doughnut