Energy Saving Group

XmasFairy

basaratsang wrote: »

I have been to their office in Redditch last Friday 16/12/2011. I can confirm their office has closed or moved! The door was locked and the light was off! We need to do something. We should gather together and do something to get our money back from the company managing director:Stephen Dickson! Anyone has other suggestion, please reply! Many thanks.

He is the MD of Energy Reduction as mentioned in previous post. If you look at the new website for them it gives you the new address however the "meet the team" part is suspiciously blank as obviously they're not displaying the fact yet due to the problems and trying to hide from people wanting their money. Maybe a letter to the Advertiser is a start?

I've not been affected by them or had any dealings with the company per se just had information I wanted to pass on to help people out as not nice to be scammed like this, especially round this time of year when money is tight for everyone.

basaratsang

We have not signed any agreement yet with the installer (My Energy Station). Have not got any news from MES or ESG. We only signed the contract with ESG (the pink document). I reckon ESG didn't pass enough information to MES!:mad:

basaratsang

CSMERUK: It may be worth to show some evidences about your claim.

Juxta2

CSMERUK is talking rubbish !!!!
Energy Savings Group and Energy Reduction Group ARE ran by the same people, just changed the company name when the heat got too much

basaratsang

Yes, Energy Reudction Uk is run by the same people!:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:
Energy Saving Improvements Limited (trading name: Energy Saving Group)

Energy Reduction Surveying Limited (trading name:Energy Reduction UK)

See companies search below:

company-director-check.co.uk/director/909110285

company-director-check.co.uk/director/913729236

Swipe

basaratsang wrote: »

Yes, Energy Reudction Uk is run by the same people!:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:
Energy Saving Improvements Limited (trading name: Energy Saving Group)

Energy Reduction Surveying Limited (trading name:Energy Reduction UK)

See companies search below:

company-director-check.co.uk/director/909110285

company-director-check.co.uk/director/913729236

Busted :rotfl::rotfl:

Cardew

The power of the internet!

Let us hope prospective customers Google

Cardew

As it appears that Energy Saving Group did install Rent a Roof systems before [STRIKE]changing their name [/STRIKE]going bust, they will have a considerable income stream from FIT for the next 25 years.

The liquidators should be able to determine where all this money goes and of course it should be used to pay off the many £500 deposits that the company owe.

Let us hope that money isn't being diverted elsewhere. Those owed £500 should start asking some questions.

grahamc2003

Cardew wrote: »

As it appears that Energy Saving Group did install Rent a Roof systems before [STRIKE]changing their name [/STRIKE]going bust, they will have a considerable income stream from FIT for the next 25 years.

The liquidators should be able to determine where all this money goes and of course it should be used to pay off the many £500 deposits that the company owe.

Let us hope that money isn't being diverted elsewhere. Those owed £500 should start asking some questions.

Aiui, frequently, when one company goes bust, directors can the next day start trading in a new company (totally unconnected to the old company!), and simply buy any assets from the bust company. So for example, a solar company with a 25 year income stream can go bust, and that income stream can be bought for peanuts by a new company run by the same people as the old company. Of course, any debts and liabilities, like tax, bank loans, people's deposits, suppliers invoices, are just left with the old company, never to be paid (almost always, any realised value in the bust company goes in fees for the administrators with nothing left over).

That is my amateur view, could be completely wrong - would be great if a chartered accountant or other finance professional could comment in general terms.

Cardew

grahamc2003 wrote: »

Aiui, frequently, when one company goes bust, directors can the next day start trading in a new company (totally unconnected to the old company!), and simply buy any assets from the bust company. So for example, a solar company with a 25 year income stream can go bust, and that income stream can be bought for peanuts by a new company run by the same people as the old company. Of course, any debts and liabilities, like tax, bank loans, people's deposits, suppliers invoices, are just left with the old company, never to be paid (almost always, any realised value in the bust company goes in fees for the administrators with nothing left over).

That is my amateur view, could be completely wrong - would be great if a chartered accountant or other finance professional could comment in general terms.

IMO that isn't quite the case.

If a limited company goes bust, it is up to the administrator/liquidator to dispose of any assets for the best price in order to pay firstly preferred creditors in full, and then any non-preferred creditors xpence in the pound.

The difficulty I suspect in cases like this is that it is not easy to trace the creditors(those who lost £500) unless the company have kept accurate records.

Additionally the costs of these liquidators is astronomical - senior parners £500 an hour! and even clerks doing photocopy can cost £200 an hour.

However an income stream of generally over £1,000 pa per house (inflation linked for 25 years) is very valuable. The liquidators might take the view that the house owners be offered the opportunity to buy 'their' systems for a knockdown price in order to pay off the creditors - say £5000?

It would need to be determined if the FIT income hasn't been arranged to go to the parent company, or hived off elsewhere. If so the legality of that arrangement would need to be investigated.

http://webarchive.nationalarchives.gov.uk/+/http://www.insolvency.gov.uk/cib/index.htm

Any irregularity can lead to a Director being disqualified.