MBI and Northern Powerhouse Developments

ashpan

What can we do, I’ve asked for my money back several times and they’ve refused if course, I feel sick that my £50k inheritance may be gone, I’ve also emailed Duff & Phelps

Malthusian

ashpan wrote: »

What can we do

What you should have done two years ago (at least) and saved yourself a lot of stress - write it off. Treat any recovery as an unexpected bonus.

It is highly likely that the money is gone.

ashpan

Thanks for your heartfelt words, I and many others will be looking for practical guidance not ‘tut-tut’ and finger wagging

Malthusian

That is practical guidance. "Why on earth did you invest in such an obvious scam" would have been finger wagging. "Write it off" is practical guidance on how to stop them stealing any more of your mental energy on top of your money.

When an unregulated company owes you money and isn't paying it back, the only practical options are 1) write it off or 2) seek legal advice and risk throwing good money out of bad. 2) is now largely pointless as administrators have already been appointed.

ashpan

administrators have yet to be appointed to NPD which is where my money was invested - I am looking for advice as to how this will work, the process etc and would there be any point in contacting say the police? my returns are now due to commence in January 2020. This is the latest response from NPD

“Due to the negative media coverage, the Chairman is required to answer many questions being raised.

With any media coverage, it is presented in a way to create the highest amount of concern.

We have been advised that there is a clearer picture of the groups position which is yet to be realised.

In light of this, a lot of internal requests for information are being responded to much slower than usual and we will respond as quickly as possible.

Thank you for your patience.”

Kind Regards,

NPD Sales Team

Zanderman

ashpan wrote: »

This is the latest response from NPD

“....We have been advised that there is a clearer picture of the groups position which is yet to be realised.....Thank you for your patience.”

Well, they would say that wouldn't they?
Isn't this the whole problem with these shysters - that they keep on saying we'll tell you more soon and we'lll pay you later? And that 'soon' and that 'later' never happen. They just ask you to wait, again.

I have sympathy for those who put money into this, but I suspect the advice to consider the money written off is good advice.

Then you can only be pleasantly surprised if it isn't, not continually stressed waiting to hear that it is but hoping that it isn't.

Malthusian

ashpan wrote: »

administrators have yet to be appointed to NPD which is where my money was invested

Then in terms of practical advice, you could still follow option 2, i.e. take legal advice and begin the process of making a statutory demand for the money you are owed, which would eventually lead to NPD being put into administration as well (or you being paid back).

However, my practical suggestion is that doing so is likely to be throwing good money after bad. Firstly because the money is probably gone. First rule of civil law is don't sue people who don't have any money. Secondly because as {Edited by Forum Team}'s web of companies unravels, NPD may be put into administration or liquidation by someone else at some point anyway, without you needing to spend money and further mental energy just to make that person you.

The chance that you would lose anything by doing nothing and writing it off (i.e. the chance that, by taking legal action, you would recover money which you would not have if you had done nothing) is vanishingly small. If you are in any doubt then by all means ring round registered solicitors and ask if they offer a free half hour initial chat.

and would there be any point in contacting say the police?

Probably not unless you have evidence that a crime has been committed. Running a failed business is not a crime.

If you did have evidence you could contact Action Fraud. They would add your report to a file. Do not expect to hear anything back other than a standard acknowledgement. Even if any action is taken, it would be years before you saw any further movement.

Zanderman

Another day, another exposure of NPD's business practices, this time hotel rooms in Devon (the hotel is real, the rooms are real, but the investment isn't):

{Edited by Forum Team}

badger09

@ RichardMerrin

You need MSE's permission to post as a company representative


https://www.moneysavingexpert.com/site/forum-faqs/#companies

Zanderman

{Edited_by_Forum_Team} wrote:

{Edited by Forum Team}/QUOTE]

As Badger has said, if you're really from Duff & Phelps and are writing on their behalf you need permission to post on this forum - as do all company reps.

Otherwise how does anyone know you're not a shill for NPD trying to get info?

Or just someone being mischievous?

You thanked Badger for pointing this out but you don't seem to have done anything about it - you simply carried on posting.