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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Park owner NOT paying GUARANTEED rentals to lodge owners
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spacey2012 wrote: »If they can not meet the statutory demand, they go bankrupt, at least it draws a line under the losses.
However, once faced with the prospect of imminent bankruptcy, they may pay off the statutory demand to buy time from bankruptcy.
They have 21 days to respond. If there's agreement then the petitioner has the recourse of issuing winding up proceedings. Again at further cost. Is it worth the outlay?
A business in trouble isn't going to flinch at a statutory demand. More than likely the decision as to whether the business is even viable is currently in progress.0 -
oh, dear, seems this hot tub supplier was persuaded in a financing deal to lease their hot tubs there with all the risks on them. Wonder if they are aware of the cash flow problems there?
The organisation that brokered the deal says 'We were recently contacted by specialist hot tub supplier Scarborough Spas to arrange finance for the lease of premium US-sourced hot tubs in Mullacott Park lodges....
We arranged the tax-deductible deal with a lease period lasting for 3 years whereby the hot tubs would be delivered quickly without having to make a deposit, sign any personal guarantees, or put a charge on any property. We were also able to avoid any complicated paperwork and getting a bank involved."
http://www.johnsonreed.co.uk/blog/hospitality-finance/johnson-reed-finance-new-hot-tubs-for-mullacott-park/
There is also blurb published for prospective buyers of their lodges saying how their sector is one of the only property sectors set to out perform the recession and how brilliant their rental scheme is compared to other structures..
http://www.thomsonopi.com/uk/mullacott-park/thomsonOPI-mullacottpark.pdf
According to companies house, their accounts (Wilson Leisure Developments Ltd) are overdue by nearly 3 months.
Next Accounts Due: 30/09/2012 OVERDUE
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Who knows what about the cash flow problems as the park owner has been very non-communicative. It would have lightened the blow if he had at least had the professional courtesy to contact each lodge owner to explain fully this situation - of course he would have know about this all along.
Interesting reading regarding the hot tubs. Yes I have checked with companies house as well as you say accounts now overdue. This is not looking good.0 -
Does anyone think its feasible for the OP and others that are joining the fight to take the company to the small claims court after issuing a letter before action or is this just a waste of time, energy and court fee?
Can't certain levels of claims just have small claims court actions raised online on the court website?
If the defendent doesn't respond or file a defence, doesn't the judgement get automatically made in the claimant's favour? How the OP would then satisfy a positive judgement, I don't know. Most small claims don't get satisfied and there are limited ways to enforce this.
Is there a quick/easy way to check for existing CCJs which would also indicate the 'health' of the company.
By the way, see this info :-
The latest Annual Accounts submitted to Companies House for the year up to 31/12/2010 reported 'cash at bank' of £4,739, 'liabilities' worth £5,158,716, 'net worth' of £86,140 and 'assets' worth £929,716. Wilson Leisure Developments Limited's Risk Score was amended on 06/10/2012.
http://companycheck.co.uk/company/048355600 -
Does anyone think its feasible for the OP and others that are joining the fight to take the company to the small claims court after issuing a letter before action or is this just a waste of time, energy and court fee?
Can't certain levels of claims just have small claims court actions raised online on the court website?
If the defendent doesn't respond or file a defence, doesn't the judgement get automatically made in the claimant's favour? How the OP would then satisfy a positive judgement, I don't know. Most small claims don't get satisfied and there are limited ways to enforce this.
Oh, it's feasible to bring a County Court claim, all right, and based on what the OP said it's an open and shut case. Then what? If there's no cash in the kitty .....No reliance should be placed on the above! Absolutely none, do you hear?0 -
What sort of lease do the chalet-owners have on the land on which their chalet is built, by the way?No reliance should be placed on the above! Absolutely none, do you hear?0
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Thrugelmir wrote: »They have 21 days to respond. If there's agreement then the petitioner has the recourse of issuing winding up proceedings. Again at further cost. Is it worth the outlay?
About a Hundred quid all in.
Which you get back if they pay.
It carries a big stick approach a CCJ does not, but you have to be first.
If they can not pay, then the sooner they are wound up the better.
Companies can fend of a CCJ, dozens if need be, but once petitioned for bankruptcy, they have to be 100% certain they are going down and as this may be the directer drawing wages out of the rental money until it does eventually sink, the sooner the better.Be happy...;)0 -
The below is what is quoted on their website:
'When you purchase a lodge you will be offered a licence agreement outlining the terms of its use. It works like a lease and the longer the agreement the more likely the lodge will appreciate in value. Agreements can be anything from as little as 10 years. At Mullacott Park we offer 99 years. This is a very important element to consider before you purchase a lodge'0 -
adouglasmhor wrote: »See a solicitor, if site owner can not meet his contractual obligations there should be nothing to stop you renting privately. He has efectively broken the contract not you.
Are you sure about that? When one party breaches the contract, it doesn't necessarily mean the other party is free to ignore the parts that apply to it.
Consider a tenancy agreement - a landlord may fail in their legal and contractual obligation to maintain and repair the property but the tenant still can't get out of paying the rent.0 -
Oh, it's feasible to bring a County Court claim, all right, and based on what the OP said it's an open and shut case. Then what? If there's no cash in the kitty .....
Yeah, throwing good money after bad...
But at least it starts to emphasise that the owners of the chalets aren't going to be passive and that the company owner can expect more business-like addressing of their contractual failures.
The informal approaches by the OP have come to nowt and have not influenced matters.0
This discussion has been closed.
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