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  • FIRST POST
    • ashpan
    • By ashpan 13th Sep 17, 5:49 PM
    • 186Posts
    • 24Thanks
    ashpan
    MBI and Northern Powerhouse Developments
    • #1
    • 13th Sep 17, 5:49 PM
    MBI and Northern Powerhouse Developments 13th Sep 17 at 5:49 PM
    i invested in a care home development company a couple of years ago, then known as MBI Property Investments, but now known as Northern Powerhouse Developments. I Purchased a room in an off-plan care home with the idea of a return on my investment commencing in december 2019. They have recently written to me saying that the company has now been split into 3, with the care home i was investing in being transferred to a leisure company that speciaised in selling hotel rooms. They have told me that they plan to sell the care home i invested in as soon as its built as the new CQC guidelines mean that the size of the rooms wont make it financially viable. I have three choices currently, transfer my investment to a hotel room in the next 4 weeks and they will add another 10k to the investment and i will get my returns 12 months early, leave the money in the off plan care home or sell my room in the hotel once ive purchased it. Im pretty confused and disappointed with the whole situation as how do i know that they wont again change things when the time comes to realise my investment. I need to know if i can get out of this as they havent kept their side of the deal ie by constructing a care home and having my room up and running to be able to offer me a return on my investment.
    Has anyone else invested in either MBI or Northern Powerhouse Developments ?
    Last edited by ashpan; 13-09-2017 at 5:54 PM. Reason: spelling
Page 5
    • AnotherJoe
    • By AnotherJoe 18th Apr 19, 9:26 AM
    • 16,021 Posts
    • 19,221 Thanks
    AnotherJoe
    Ah, but while they're paying "dividends" people don't turn up here saying "Has anyone received any payments from..."

    Once they do, then the answer is no.

    Example: No-one posted that question in the LCF thread at any point. Once payments stopped the scheme collapsed noisily.
    Originally posted by Malthusian

    https://forums.moneysavingexpert.com/showthread.php?p=71610101


    (from "sledger" stating hes just been paid his quarterly dividend - probably the last ever one )
    And the initial Q asked "has anyone had any dealings with this company",and there were several along those lines.
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • Malthusian
    • By Malthusian 18th Apr 19, 11:54 AM
    • 6,808 Posts
    • 11,005 Thanks
    Malthusian
    https://forums.moneysavingexpert.com/showthread.php?p=71610101

    (from "sledger" stating hes just been paid his quarterly dividend - probably the last ever one )
    And the initial Q asked "has anyone had any dealings with this company",and there were several along those lines.
    Originally posted by AnotherJoe
    I was talking specifically about questions of the format "Has anyone received their payments from [unregulated investment]". "I have received my payments on time from [unregulated investment]." is a totally different sentence. It's not even a question.

    My post had nothing to do with the original Q which was by then a year and a half old. I was replying to posts #70 and #71 which resurrected the thread.
    • olivierg
    • By olivierg 14th Jun 19, 7:04 AM
    • 2 Posts
    • 1 Thanks
    olivierg
    Class Action
    Hi all,
    Would anyone be interested in investigating a class action against both NPD and {Edited by Forum Team}himself as a director. He has twitter followers, his own branded website so pressure can also be built on him personally.
    Best case, some of us see their money back, worst case, he goes bankrupt or empties the company from its assets, the result being the same, money would be gone.
    I am currently talking to lawyers regarding invoking the 1986 insolvency act, but this would be quite costly, a class action being possibly stronger.
    Regards,
    Olivier
    Last edited by MSE Tine; 10-07-2019 at 7:46 AM.
    • Malthusian
    • By Malthusian 14th Jun 19, 8:27 AM
    • 6,808 Posts
    • 11,005 Thanks
    Malthusian
    Best case, some of us see their money back, worst case, he goes bankrupt or empties the company from its assets, the result being the same, money would be gone.
    Originally posted by olivierg
    The result would not be the same, because you would have thrown good money after bad. A lot of good money depending on how far you pursued the director.

    Class actions are not possible in the UK. Every plaintiff has to have their case heard individually. A "group action" is, which is when the plaintiffs all use the same lawyer in their individual cases to avoid reinventing the wheel, who consequently charges them less per throw.

    However if a company owes you money and aren't paying it then a group action is not necessary. It only takes one creditor to put the company into insolvency. Albeit one creditor willing to potentially throw good money after bad on a statutory demand followed by insolvency proceedings. At that point, if the company cannot pay them, an insolvency practitioner takes over on behalf of all creditors. They can pursue the directors if there is any liability (there very rarely is).

    Basically your lawyer just wants you to round up some more clients for them for free. If they don't think it's worth your own money to start insolvency proceedings then you should seriously consider following their advice and writing the money off.
    • olivierg
    • By olivierg 14th Jun 19, 8:44 AM
    • 2 Posts
    • 1 Thanks
    olivierg
    Thank you for your reply. Indeed invoking the Insolvency Act requires just me for example and is not the most costly route. I can actually apply directly to the MoJ, the solicitor just helping get the form right before being submitted. This is the route that I am currently pursuing.
    I will also put some media and internet related pressure on {Edited by Forum Team} as he has setup quite a marketing presence through his twitter, fb, personal web site etc...
    I have no problem throwing a little bit of extra cash to take someone's business down. It's a matter of principles where I come from.
    Last edited by MSE Tine; 10-07-2019 at 7:46 AM.
    • cc372
    • By cc372 19th Jun 19, 2:12 PM
    • 1 Posts
    • 0 Thanks
    cc372
    I assume you have looked on companies house, the directors business history makes for interesting reading. I have never seen someone be director of so many companies, most of which are now dissolved!


    It is disgusting this is an unregulated sector and are now living lavish lifestyles off the back of this.


    Ponzi......???
    • Zanderman
    • By Zanderman 26th Jun 19, 5:00 PM
    • 2,392 Posts
    • 5,288 Thanks
    Zanderman
    Interesting (and frankly worrying) story about {Edited by Forum Team} emerging from a Guardian/ITV News investigation:

    https://www.theguardian.com/business/2019/jun/26/uncovered-the-200m-theme-park-the-businessman-and-the-missing-millions

    more here:

    {Edited by Forum Team}

    and here:

    {Edited by Forum Team}

    And a video report here:

    https://youtu.be/aw7GeveegPI

    And a response by N Powerhouse here:

    https://www.theguardian.com/business/2019/jun/26/northern-powerhouse-developments-response-to-guardian-and-itv-news
    Last edited by MSE Tine; 10-07-2019 at 7:47 AM. Reason: added the extra links
    • dividendhero
    • By dividendhero 26th Jun 19, 9:10 PM
    • 2,202 Posts
    • 4,036 Thanks
    dividendhero
    A piece on tonight's news at 10,looks like a 100% scam

    somehow Bear Ghrylls linked to this, but I bet he was conned too
    • Zanderman
    • By Zanderman 26th Jun 19, 9:14 PM
    • 2,392 Posts
    • 5,288 Thanks
    Zanderman
    A piece on tonight's news at 10,looks like a 100% scam

    somehow Bear Ghrylls linked to this, but I bet he was conned too
    Originally posted by dividendhero
    The Bear Grylls link is discussed in the articles and video report linked to in my post above.
    • Malthusian
    • By Malthusian 26th Jun 19, 9:19 PM
    • 6,808 Posts
    • 11,005 Thanks
    Malthusian
    somehow Bear Ghrylls linked to this, but I bet he was conned too
    Originally posted by dividendhero
    Doubt it. I expect the big wodge of cash Mr Travelodge received to promote this unregulated investment scheme was 100% genuine.
    • Musician Steve
    • By Musician Steve 4th Jul 19, 7:10 PM
    • 1 Posts
    • 0 Thanks
    Musician Steve
    See itn news and guardian reports
    All investors please view the recent reports on NPD in the Guardian Newspaper and ITN News reports . Today three of {Edited by Forum Team}companies were forced into administration at the High court
    Last edited by MSE Tine; 10-07-2019 at 7:47 AM.
    • ashpan
    • By ashpan 4th Jul 19, 9:36 PM
    • 186 Posts
    • 24 Thanks
    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
    • By Malthusian 4th Jul 19, 10:19 PM
    • 6,808 Posts
    • 11,005 Thanks
    Malthusian
    What can we do
    Originally posted by ashpan
    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
    • By ashpan 5th Jul 19, 7:05 AM
    • 186 Posts
    • 24 Thanks
    ashpan
    Thanks for your heartfelt words, I and many others will be looking for practical guidance not ‘tut-tut’ and finger wagging
    • Malthusian
    • By Malthusian 5th Jul 19, 8:23 AM
    • 6,808 Posts
    • 11,005 Thanks
    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
    • By ashpan 5th Jul 19, 10:59 AM
    • 186 Posts
    • 24 Thanks
    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
    • By Zanderman 5th Jul 19, 12:00 PM
    • 2,392 Posts
    • 5,288 Thanks
    Zanderman
    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.”
    Originally posted by ashpan
    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
    • By Malthusian 5th Jul 19, 2:09 PM
    • 6,808 Posts
    • 11,005 Thanks
    Malthusian
    administrators have yet to be appointed to NPD which is where my money was invested
    Originally posted by ashpan
    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.
    Last edited by MSE Tine; 10-07-2019 at 7:48 AM.
    • Zanderman
    • By Zanderman 8th Jul 19, 8:08 AM
    • 2,392 Posts
    • 5,288 Thanks
    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}
    Last edited by MSE Tine; 10-07-2019 at 7:48 AM.
    • badger09
    • By badger09 8th Jul 19, 3:29 PM
    • 7,432 Posts
    • 6,958 Thanks
    badger09
    @ RichardMerrin

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


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