Farepak Directors Trial Day 8 – 1 June 2012

Unfairpak unfortunately have nothing to report as to today’s proceedings.

Court went into recess today at 4.30 p.m. as it is the end of Term and it shall reconvene on Tuesday, 12 June 2012 at 10.30 a.m.

The Insolvency Service on behalf of the Secretary of State [Vince Cable] are still giving evidence and shall continue to do so on 12 June 2012.

Unfairpak have ascertained however, that the defendants have split into different groups due to the fact that although the Secretary of State is seeking to have them disqualified alleging “unfit conduct”, some defendants have more importance placed on them than others and accordingly face more serious allegations.  We cannot elaborate further at this stage.

11 thoughts on “Farepak Directors Trial Day 8 – 1 June 2012

  1. Now this is and interesting read which has immediately sparked my curiosity!

    I shall be constantly checking for updates now!


  2. Havent you lot got anything better to do? I lost £000s when the Nrthern
    Rock went down, so where was Vince Cable for us .. Get on with it, it’s all rather pathetic

    • You are of course entitled to your own opinion but “pathetic”?

      Unfairpak’s campaign was/is highly successful and of that we are proud as we have achieved so much.

      Get on with what? We all have our lives which we get on with but at the same time we still strive to give creditors of Farepak factual information regarding the trial and liquidation of said company.

      We are sorry if you lost out with Northern Rock however, coming onto a website and “picking” at people who are trying and who have made a difference is a little off, in our opinion!

    • Tony sorry you were one of those affected by Northern Rock. I understand you may feel bitter and angry that you lost “£000s” However we at Unfairpak have done everything possible to help, advise and highlight the events concerned with the collapse of Farepak. Vince Cable and the court case is only a part of it. Sometimes you have to stand up for what you believe in – you may think that is “pathetic”, but I actually think that making derogatory comments about those that have attempted to make a stand is pathetic.

      • What a load of dribble, businesses collapse every day. .. What do you want to do, have the directors shot at dawn, ask the UN to take over the UK, seek a bail out from the IMF .. Forget it and go and make some money

        • If the directors are found to be culpable in any way then they should be disqualified from acting as a director.

          Yes businesses collapse every day, the economy is in a sad state of affairs to say the least. However, Insolvency Practitioners and the C.I.B have a duty, under the law, to investigate why a company has collapsed.

          An investigation has been carried out on EHR and Farepak and it was decided by the Secretary of State for Business that there was a case to answer. What is your answer? Not bother taking them to court at all when there is a chance they may be guilty?

        • What is a load of dribble Tony? Have you actually read the details of the case? Do you know the facts? Have you looked at the Farepak accounts? Do you know where the customer’s money went? At a guess I would say your answer would be NO!
          Regardless, the fact of the matter remains the Directors of Farepak had responsibilities, just as we all have responsibilities in our daily lives, if we fail in our responsibilities their are consequences. As said in the case of Farepak the Secretary of state has decided their is a case to answer. Did the Directors of Farepak fail in their responsibilities? If so then why should they not face the consequences? In reality we all know justice is not always served, we don’t always get what we believe we deserve in this life but it does not mean you have to stop trying.

  3. It’s extremely annoying as we obviously would have loved to hear what HBOS had to say for themselves. Hopefully a journalist will pick this up when court sits again on 12 June. We have been told that at least one journalist will be in court on 12 June.

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