"The 2.1/2 % Claim
Updated: Feb 9
At the outset, I explained that, on 23 December 2005, just in time for Christmas, I was served with an "Originating Claim" that, despite, in December 2003, having contracted to square any inter-company debt between the Administrators of David Fabb (Holdings) Ltd,, in administration, and the company I novated from them in July 2003, CKE Engineering Limited, by payment "full and final", of £320,000, the administrators had decided, in fact, that I had stolen all the contents of the large factory of CKE. (exhibit).
The Claim was accompanied by a "Non-Statutory Report to Creditors" setting out the detail of the machinery claim, plus a claim in respect of my Director's loan account and a further claim that my Daughter was guilty of having received a preference in reference to a re-payment of 1/3rd of her investment in the family business. (exhibit).
Naturally, I engaged lawyers and Counsel to rebut the charges while continuing with negotiations to take over CKE's largest Midlands competitor. (exhibit)
Lo and Behold!... The expansion of CKE ran into problems! Barclays,, CKE's bank, who, I was told had been briefed by Deloitte at a "breakfast meeting", notified that they "wanted out". Re-banking over Christmas/New Year was difficult. Barclays steadily decreased support and, early March 2006, notified that they would not release funds to pay the 120 CKE employees if CKE's Directors failed to instruct a recent addition to the stellar ranks of UK's Insolvency Practitioners, Vantis Centrica LLP