connaught going bust! help!

cardsharps

yamas wrote: »

. can I claim back the money I invested?

Yes, of course you can. As long as you kept the receipt as proof of purchase you should be fine. Thank goodness for the moneyback guarantee.

LongTermLurker

yamas wrote: »

I bought £500 shares and now they are going to be administered. can I claim back the money I invested?

many thanks

no, but as you bought part of the company you became part owner of it and jointly liable for its debts.

Expect the bailiffs round shortly...;)

Mickygg

Nope - I am in same boat, lost money with them. Don't expect any money back as shareholders are usually last on the list once creditors have been considered.

You must have known the risks when you invested, I did.

Mickygg

It could be worse. Right on the last minute someone bought £5k connaught shares only for them to go bust hours later.

bendix

Help. I went out and bought £500 lottery tickets and didn't win the first division prize. What a scam? Someone else is obviously responsible for this.

Can I claim my money back and get compensation for the stress I've been feeling as a result? My doctor has told me to go on the sick to help my recovery.

Baz_2

I call a troll. Nobody is this stupid. Are they?

bendix

Stick around MSE, Baz. You'll see that this attitude is quite common.

So, yes, they are that stupid.

sabretoothtigger

Order of rights to company capital is roughly tax man then creditors then employees I think and pensions and finally if profits remain shareholders but usually the companys are big in debt to the banks by this point.
Jessops was an exception, they divided 100k between all shareholders at year start, came to like 0.1p per share I think
A buyout is usually a good outcome but not heard of that in this case

fullstop

sabretoothtigger wrote: »

Order of rights to company capital is roughly tax man then creditors then employees I think and pensions and finally if profits remain shareholders but usually the companys are big in debt to the banks by this point.
Jessops was an exception, they divided 100k between all shareholders at year start, came to like 0.1p per share I think
A buyout is usually a good outcome but not heard of that in this case

Except for football clubs for some reason, HMRC lost their case against Portsmouth FC recently arguing that they should have been top of the list for payouts.

VT82

LongTermLurker wrote: »

no, but as you bought part of the company you became part owner of it and jointly liable for its debts.

Business Law fail.

The liability of shareholders in a public company, unlike partners in a partnership, is limited to their investment in their shareholding.

Geek alert