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Gmund Cars Ltd & Andrew Mearns FRAUD £1Million stolen

ShadesOfRed said:
As I understand it... it wasn't a voluntary liquidation - someone filed a winding up petition. From that point onwards the liquidators can't do much else other than to establish ownership of all assets and to see the ones deemed owned by Gmund and then to divvy up the proceeds among the creditors.
company is not in liquidation its in Administration which is something completely different.

Administration provides protection from Creditors actions and in particular winding up orders.
 
its a defensive action by Mearns & Co

I suspect he is probably bidding on the items up for auction - nobody can argue then that they have been sold at undervalue.
 
Has anything regarding G munds demise and fraud been published in the local media ? no doubt its a no
 
mrgrey said:
Lots of nice miscellaneous assets in the auction I wonder who has bid low on so many items already? As Jonttt says (potentially)where are the best bits? In my experience a lot of assets melt away or are 'misappropriated' prior to the demise of a company and the rest gets sold for about 10% of its worth.

More importantly has a date been set for a creditors meeting, I hope a forum member can attend and report back. Will the OP and/or other victims be listed as creditors and be able to attend? If not perhaps they should consider buying a small trade creditor debt enabling them to go and witness Mearns performance, it could be of Oscar winning stature. Will Sammy be there to collect the best supporting actress prize?

What's the betting on him blaming a recent downturn in trading for his downfall - if not BREXIT!

Good luck to Pagoda and any other victims I hope you all get every penny back, if not we all enjoyed the ride, expensive though it was.

I have a few pics of the garage from 18/5 and can see some tool cabinets missing straight away (a black one and a red one). As far as the showroom is concerned, other than pictures and the toy cars in his display cabinet (which he'd undoubtedly say were his own personal items), there doesn't appear to be anything obvious omitted.

No date for a creditors meeting advised yet, but my status as a creditor has been confirmed. Will have popcorn at the ready to see Andrew's performance. I understand he's claiming to be the largest creditor by the way .... :floor:
 
Do you have to be a creditor to attend the meeting or can you come along and cheer on your favourite team, so to speak? :floor: :floor: :floor:
 
Pagoda1966 said:
I have a few pics of the garage from 18/5 and can see some tool cabinets missing straight away (a black one and a red one).

In fairness quite often tools are owned privately by a mechanic / technician and not the company. It's possible this is the case here. Clearly I do not know the setup but it is possible.
 
Pagoda1966 said:
mrgrey said:
Lots of nice miscellaneous assets in the auction I wonder who has bid low on so many items already? As Jonttt says (potentially)where are the best bits? In my experience a lot of assets melt away or are 'misappropriated' prior to the demise of a company and the rest gets sold for about 10% of its worth.

More importantly has a date been set for a creditors meeting, I hope a forum member can attend and report back. Will the OP and/or other victims be listed as creditors and be able to attend? If not perhaps they should consider buying a small trade creditor debt enabling them to go and witness Mearns performance, it could be of Oscar winning stature. Will Sammy be there to collect the best supporting actress prize?

What's the betting on him blaming a recent downturn in trading for his downfall - if not BREXIT!

Good luck to Pagoda and any other victims I hope you all get every penny back, if not we all enjoyed the ride, expensive though it was.

I have a few pics of the garage from 18/5 and can see some tool cabinets missing straight away (a black one and a red one). As far as the showroom is concerned, other than pictures and the toy cars in his display cabinet (which he'd undoubtedly say were his own personal items), there doesn't appear to be anything obvious omitted.

No date for a creditors meeting advised yet, but my status as a creditor has been confirmed. Will have popcorn at the ready to see Andrew's performance. I understand he's claiming to be the largest creditor by the way .... :floor:

I've had a reply from the administrators to my email pointing them to this thread :thumb:

Its interesting that you have been confirmed as a creditor, it presumably means your car did go through the company books ie it owes you money for it. The 64m dollar question is how the SOR transactions where treated in the company book eg if they where bought into 'stock" to sell with a corresponding debt owed to you then he may have been able to use the sale proceeds to pay other debts. If your being treated as a creditor (do you know how much for ?) for the full value of your car (ie the price you agreed you wanted for it) then thats my guess. It would then come down to any paperwork / contract you had with the company to check if the accounting treatment was correct or not :dont know:
If however the company only recognised the 'commission" from the SOR sale (or the contract confirms that what should have happened) then fraud may be easier to prove :?:

The creditors meeting will be very interesting especially if he is also attending as a creditor of the business. Ps you are allowed to take someone with you, I usually take someone with me (a solicitor or accountant depending on the issues) :wink:

Ps don't be afraid of calling him for what he is ie a living thieving scum bag, don't be aggressive or rude with it, just say it as it is. People are normally wither too reserved when face to face or go too far the other way which achieves nothing.

Don't forget to ask questions about Mrs Samantha Mearns and her recent resignation and the fact she is a qualified solicitor (although as she seems very keen to point out .... none practicing......that does not matter in fraud, the judicial system takes a very dim view of qualified persons committing fraud :hand: )

ask him what he is going to do next :floor:
 
If it's gone into administration the Directors can form a new company and buy the assets.
 
991.2GTS said:
If it's gone into administration the Directors can form a new company and buy the assets.

Its the ones they have hidden and will be putting into the new company that we are interested in :wink:
 
Really feel for you OP, what a debacle. This is seemingly almost legal theft, like rogue builders who steal huge amounts off people for shoddy/non existant work and then get a slap on the wrist if they are unlucky.

For what its worth, hope you get something....
 
More common than you think this. You really do need to check a dealer out properly before giving them your car to SOR. I thought this firm was pucker until quick bit of desktop research :eh!:

 
No-one forced Andrew Mearns to behave as he did.
 

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