Dream Lodge Group

BillyBill

Has The Dream Lodge Group stopped trading?
I am owed money and all the phone lines message boxes are full and the website is unresponsive. No answers to email or call backs sent from when the website was working.

Malthusian

Still trading according to Companies House, although that doesn't mean it has any money. On 21 December it changed its registered address to some guy's house (you can look it up on Google Maps and admire the tennis court), although whether that has any significance, who knows.

If they owe you money and they aren't paying it, your options boil down to 1) write it off 2) take legal advice, although beware of throwing good money after bad.

It is interesting that the Telegraph says they were booking holidays and taking money in while failing to pay "guaranteed returns" to investors, because wrongfully trading while insolvent is a serious matter which can result in the directors being held personally liable for the company's debts. Whether this makes any difference to the investors' chances of recovery is another matter. A house in the Essex countryside isn't going to go very far across however many investors Dream Lodge / Walsham Chalet Park has, even if it does have a tennis court.

missfday

inhave had this confirmed today, they owe me money on a contract holiday and wanted to know if there was anything i could do to claim money back

missfday

missfday wrote: »

i have had this confirmed today, they have gone into administration. they owe me money on a contract holiday and wanted to know if there was anything i could do to claim money back[

jimjames

No

Malthusian wrote: »

Still trading according to Companies House, although that doesn't mean it has any money. .

They also seem to have used the account filing loophole to avoid any publication since 2016. I wonder how much longer Companies House can let that one continue

Ian_Bone

Looks like receivers now called in.
Letter received today by my wife who has significant savings in there.
What is the status of partially owned lodge with others. Surely the receivers will have to work with partial investors to gain approval for any distressed sale of any unit.

Malthusian

jimjames wrote: »

They also seem to have used the account filing loophole to avoid any publication since 2016. I wonder how much longer Companies House can let that one continue

Accounts are now overdue so no longer. Once accounts are overdue you can no longer change the accounting date.

But if the company truly has gone into administration it no longer matters - companies in administration don't publish accounts, instead the administrator will publish updates. (Companies House doesn't say they're in administration, but it might be because the paperwork hasn't been processed yet.)

If they had pulled the one-day shortening trick a second time in October before the accounts fell due again, they would have bought another three months and could have carried on avoiding filing accounts indefinitely. Companies House has confirmed they have no policy to follow when a company abuses the loophole in this way.

missfday wrote:

inhave had this confirmed today, they owe me money on a contract holiday and wanted to know if there was anything i could do to claim money back

Wait for the administrator. I suggest you write off the money and treat any return as a bonus. It is likely that the properties are not worth anything close to what investors paid for them. The first post in this thread suggests the investors didn't own the properties. ("They have stressed that NO solicitor is required in the transaction is the purchase is not being registered in my mothers name via land registry.")

Investors should beware of fraud recovery fraud. If someone rings you up claiming your money will be returned if you pay "legal fees" or "administration fees" it's a scam. The administrator's fees will be deducted from the company before any payment is made to investors.

missfday

thanks for your help and advice

Intoodeep

Now on Money Box today (26/1/19)


Bang they go............pop

Terry98

Intoodeep wrote: »

Now on Money Box today (26/1/19)

You can listen to it here https://www.bbc.co.uk/programmes/m00026j4