Blackmore Bond Given Lifeline By Government? More Delays to Repayment?

By J Drew -

Has Blackmore Bond been given a get out of jail free card?


At the daily Government press conference on 28th March 2020 it was announced that the rules relating to insolvency and business failures were being relaxed to help support businesses through the Coronavirus pandemic. While this is clearly welcome to help protect jobs and assist companies through the current financial storms as a result of the surge of infections it also looks like it could mean Blackmore Bond can use it to further delay their payments to investors and continue to avoid any process that involves the company going into administration.

Blackmore Bond Saved By Government?

https://www.itv.com/news/2020-03-28/coronavirus-business-help-insolvency-alok-sharma/

Probably the aspect of most concern for investors in Blackmore Bond is the temporary suspension of wrongful trading provisions for company directors to remove the threat of personal liability which is backdated to 1st March 2020.

There is no further detail as yet on the government website but any measures to help one set of businesses could very easily be misused by another group so it will be worth watching to see if Blackmore Bond try to use any of these revised provisions to avoid scrutiny and prevent investors from being able to force the directors to pay back their investments or interest owed.

Comments

Post a Comment

Popular posts from this blog

Concept Capital Group Review - Is it a Scam?

By J Drew -
Image
Investment in Concept Capital Group is being promoted on Facebook and Rightmove to solicit investment in their static caravans for rental to social housing tenants via Social Park Housing. Concept Capital Group are claiming to guarantee rental income of 10% but as investors in London Capital & Finance are fully aware, this sort of guarantee is fully dependent on the company making it still being in business. If the company fails for any reason then there will be no-one to support the guarantee or to return money to investors.  If the company fails your guarantee disappears. Concept Capital Group have only existed since 2019 so have no track record of honouring investment guarantees over the long term. Concept Capital Group Risks - Is it a Scam? Concept Capital Group include a small link to a disclaimer page on their site that identifies the risks involved in their investments yet it is very clear from the reviews posted that investors are not aware of the risk they are taking with
Read more

LCF - Where Are The Assets & People Now?

By J Drew -
Image
Where are the People and assets behind LCF & their agent Surge Financial? London Capital & Finance owned a helicopter purchased by Andy Thomson. LCF helicopter seized This has now been seized and is being held at Shoreham Airport in Sussex. According to the administrators one of the loans of £12 million was to a stables called Home Farm originally run by Spencer Golding but now owned by Sean Cubitt who was unable to provide any paperwork for the purchase of the company or for any of the horses. There were originally 85 horses apparently with a combined values of £15 million according to the owners but when the administrators visited they could only see 35 that had a value of less than £10,000 each. Sean Cubitt claimed that there was no bank account for the company that runs Home Farm. So a company with no bank account was loaned £12 million by LCF. Yet another example of the lies they told to investors about their lending process. We understand that the val
Read more

Hunter Jones Investment Review - Is it a Scam?

By J Drew -
Image
A company called Hunter Jones Investments are advertising on Facebook for bonds that they claim are paying 24% fixed return over 24 months for a managed property portfolio bond. It makes no mention that it is now breaking the law to sell unregulated bonds to retail investors. So is this investment opportunity from Hunter Jones a scam or genuine investment?  Hunter Jones Facebook advert - Is it a Scam? The name makes it sound like you're dealing with a person called Hunter Jones but it's actually a trading name for a company called  Osborne Baldwin Limited.  There is no mention of any risks involved in lending money to Hunter Jones investments - if you think you are putting money into safe savings as per a bank then you are at risk of being misled. Hunter Jones are not FCA regulated. There is no FSCS protection and you could lose 100% of your money if the company you lend money to was to fail. From information online there are unhappy previous Hunter Jones investors who used the
Read more