Anyone know where he is? You can’t just disappear very easily especially with this wind blowing, where did he reside?
He didn’t attend a hearing of the pension scheme a month ago when required to, no idea where he lives or is now, I suspect one Mr McGuiness of the racing parish would like to know as he didn’t get paid either.
Submersion in the dark depths of the ocean is a great idea,but that's the easy way out for him.He needs to reflect on what he has done in life......or maybe we get hold of a voodoo doll with healthy sharp pins.
Guys don't get too carried away. All he done was to use a good old English brand, that open hearts and most importantly purses, somehow, he took this to a different level and managed to trick even the Gov. into it, which in return provided a good reassurance for other investors. Easy to blame media now but if one was to write anything bad about Norton he would get "told off" for not believing enough in our own brands.(even on this very forum) Although it seemed fairly obvious a company of this size cannot afford to develop a superbike engine for the volumes they intend to sell..... My business lost around £60k due to 3 companies going bust in the last 8 years.... none of the directors ended up in jail, or had personal assets "removed", actually 2 of them set up new a ltd. in the same premises under a different name. All you need is couple of good insolvency specialists to help you where and how to move the assets way before things go wrong.
Anybody on here read the book at the time on John Delorean,with his government loan worth £80 million plus.
You shouldn’t recommend asset stripping of companies by Directors who know the Company is in difficulties. ‘Fraud can be broadly defined as the deliberate use of deception or dishonesty to disadvantage or cause loss (usually financial) to another person or party.’ https://www.fraudadvisorypanel.org/...l-fraud-in-England-and-Wales-December2015.pdf
Shouldn’t this be with the other Norton thread? @El Toro Anyway the obvious question is ‘where did all the money go’?
TBH 28m or whatever it is is a tiny amount of money for what was purportedly a multi-national vehicle manufacturer., most similarly structured businesses would have liabilities far exceeding this amount at many dates in their financial calendars, if you stuck them under the microscope. If it had had some good corporate governance and a diversified chain of command from the get go this would never have happened. The problem was too much control in the hands of one man as opposed to a board of directors with corresponding responsibilities, reporting lines, checks and balances etc. and as a result, this clown got carried away and it became a vanity project and personal piggy bank. A board of executive directors would never have allowed this to happen. There seemed to be enough orders, the money just didn’t reach the production line and as a consequence bikes didn’t make it out the factory doors and finally questions started to be asked, once the horse had already bolted. In an environment with adequate corporate governance compliance would never have allowed this to progress. It’s known as the ‘four eyes’ principle and is standard practice in almost every business environment. One example of this is a mechanism to ensure customer deposits are ring-fenced to prevent anyone having a hand in the till. Another is two signatures on a chèque over say 10 or 50k. In my opinion too many people also bought into the ‘revive a great British brand’ hype and now they have lost out. I for one would never write a chèque for anything of significance without the appropriate due diligence. Life sucks sometimes, we all make bad decisions, sometimes in good faith. Garner will be dealt with, I suspect, move on, buy a Ducati!
Perhaps you’d like to invest your pension pot in a little vanity project I’m setting up? You wouldn’t see a penny of it again, but I’ll have a fine time spending it for you! Then you can just ‘Move On’!
Writing down the reality is not a recommendation.... I lost monies because of these people. I could bet the list of directors that lost private property and are in jail for fraudulent behaviour is very very thin....... My point was that the law is a piece of shit and let's these cunts to get away for to long. The Gov had all the means to see the Norton books before they decided to "cleverly invest" in the company, but hey that picture of a Tory politician supporting the "home made" was worth more in there eyes than taxpayers monies. Now, if the Gov cannot check properly how can I as mere mortal?
No, first I would do all the required due diligence, if I smelled a rat I wouldn’t invest. If I did invest and it subsequently transpired you had withheld, concealed or manipulated information causing me to invest I would come and take back what was mine (or goods to the value of), with menaces if necessary, long before an administrator got within 100m of the business. There is a money changer in Batu Bolong, Canggu, Bali currently wondering why his kiosk is now floating in the sea!
Wow... I just looked it up on Google maps. That part of the world has changed a lot in the last twenty years. I hope you're having fun.
Yeah, there is one less money changer for a start! Sadly I am now in the UK at my mum’s keeping my fingers crossed for my inheritance. The virus won’t get me but I am liable to die of overexposure to biscuits and Classic FM!
