Distressed Asset Bonds gone bad

PAULHENDERSON1

Further to my thread , have you had any further news yet? Please say on what grounds company house lifted the suspension??

Re frozen bank batch which included the Krono Investor payout for March '18 was confirmed as frozen by Graham Arnott, the accountant and company secretary. I have been told that they have been working to get it released. re link .......dont know where to look

Malthusian

PAULHENDERSON1 wrote: »

Further to my thread , have you had any further news yet?

This is an extremely obscure unregulated investment and nobody will have access to any more information than you do as an investor. The OP, "investmentnewbies", has not logged on since they posted in July, and is unlikely to return (unless they signed up for email alerts).

PAULHENDERSON1 wrote: »

Please say on what grounds company house lifted the suspension??

Most likely an objection from a creditor.

Had Krono Partners been struck off the register for its failure to file accounts, all its assets (if any) would have become property of the UK Government. This would have included all investors' money (if there is any left).

Re frozen bank batch which included the Krono Investor payout for March '18 was confirmed as frozen by Graham Arnott, the accountant and company secretary. I have been told that they have been working to get it released.

You say they've already been telling you this for two months. How long are you willing to accept the word of people who owe you money and aren't paying it back despite it being long overdue? Six months? Two years? Twenty?

PAULHENDERSON1

At present all they owe me is about £200 by way / O/S interest, and the accounts are late, apart from that, what is all this fuss about?

Reed_Richards

PAULHENDERSON1 wrote: »

At present all they owe me is about £200 by way / O/S interest, and the accounts are late, apart from that, what is all this fuss about?

The fuss is about whether you will ever be able to sell/redeem your bond and get back any money for it.

AnotherJoe

PAULHENDERSON1 wrote: »

Further to my thread , have you had any further news yet? Please say on what grounds company house lifted the suspension??

Re frozen bank batch which included the Krono Investor payout for March '18 was confirmed as frozen by Graham Arnott, the accountant and company secretary. I have been told that they have been working to get it released. re link .......dont know where to look

A famous quote by Mandy Rice-Davies seems appropriate at this juncture.

I'm sure you know what it is.

Malthusian

PAULHENDERSON1 wrote: »

At present all they owe me is about £200 by way / O/S interest, and the accounts are late, apart from that, what is all this fuss about?

If they can't pay you £200 and the company is failing to file accounts on time, which is a criminal offence, do you think there's much chance they'll be able to pay your £10,000 back?

You're the one who invested and signed up to this forum looking for answers, you can make as much fuss as you feel like.

Reaper

Since we know nothing about the freeze I can only guess. A typical reason is there has been a winding up petition. If there is a possibility a company might be shut down their bank ought to stop any withdrawals being made. That's because in the event of failure there is a pecking order as to who gets any remaining assets and hasty fat cat bonuses to the directors to empty the piggy bank doesn't come top of that list.

The attempted strike off action last month may well have been the trigger for the freeze.

But I am speculating without all the facts so take it as you will.

PAULHENDERSON1

Have it from the horse's mouth this afternoon, that it was the Secretary and the Admin person that got the suspension lifted, not 'a creditor' reason given the 2017 accounts are still with the auditors , for some reason;. January end date is right I think, but the strike off can still be appealed against. if it comes back on again.

The difference between value of creditors and assets was about £-450,000 in 2016.
Fact remains if we all steam in with a legal axe, they will disappear in a puff of smoke.
If we leave them to sort it out, we might get paid.

AnotherJoe

PAULHENDERSON1 wrote: »

Have it from the horse's mouth this afternoon, that it was the Secretary and the Admin person that got the suspension lifted, not 'a creditor' reason given the 2017 accounts are still with the auditors , for some reason;. January end date is right I think, but the strike off can still be appealed against. if it comes back on again.

The difference between value of creditors and assets was about £-450,000 in 2016.
Fact remains if we all steam in with a legal axe, they will disappear in a puff of smoke.
If we leave them to sort it out, we might get paid.

Goodness. I bet you believe in the tooth fairy as well.

Keep_pedalling

PAULHENDERSON1 wrote: »

Have it from the horse's mouth this afternoon, that it was the Secretary and the Admin person that got the suspension lifted, not 'a creditor' reason given the 2017 accounts are still with the auditors , for some reason;. January end date is right I think, but the strike off can still be appealed against. if it comes back on again.

The difference between value of creditors and assets was about £-450,000 in 2016.
Fact remains if we all steam in with a legal axe, they will disappear in a puff of smoke.
If we leave them to sort it out, we might get paid.

BS usually comes from the other end of a male bovine animal.