[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 488: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/bbcode.php on line 112: preg_replace(): The /e modifier is no longer supported, use preg_replace_callback instead
[phpBB Debug] PHP Warning: in file [ROOT]/includes/functions.php on line 4756: Cannot modify header information - headers already sent by (output started at [ROOT]/includes/functions.php:3891)
[phpBB Debug] PHP Warning: in file [ROOT]/includes/functions.php on line 4758: Cannot modify header information - headers already sent by (output started at [ROOT]/includes/functions.php:3891)
[phpBB Debug] PHP Warning: in file [ROOT]/includes/functions.php on line 4759: Cannot modify header information - headers already sent by (output started at [ROOT]/includes/functions.php:3891)
[phpBB Debug] PHP Warning: in file [ROOT]/includes/functions.php on line 4760: Cannot modify header information - headers already sent by (output started at [ROOT]/includes/functions.php:3891)
Unfairpak Forum - How Farepak Stole Christmas • View topic - Guardian (merged)

Unfairpak Forum - How Farepak Stole Christmas

On Friday 13th Oct 2006 - Farepak Hampers went into administration. Over 100,000 customers were told that no food hampers or vouchers or other goods will be supplied this Christmas as promised, and no refunds! Share your thoughts here...
Winners - Scottish Polictian of the Year Award
It is currently Wed Apr 08, 2020 7:13 pm

All times are UTC [ DST ]




Post new topic Reply to topic  [ 216 posts ]  Go to page Previous  1 ... 10, 11, 12, 13, 14, 15  Next
Author Message
 Post subject: Re: Guardian
PostPosted: Sun Dec 21, 2008 3:26 pm 
Offline
Information Mine
User avatar

Joined: Sat Oct 28, 2006 10:12 pm
Posts: 15802
Location: Ilfracombe
:lol: Dont you do too much head banging there mate. I think we are all well past wanting our little bit of money back. Justice is our thing now. Press please take note :lol:

_________________
Image Image


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Tue Sep 29, 2009 6:19 am 
Offline
Site Admin
User avatar

Joined: Sat Oct 21, 2006 3:01 pm
Posts: 13002
Location: newcastle
http://www.guardian.co.uk/business/2009 ... ompensaion

_________________
Image


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Sun Apr 25, 2010 7:40 pm 
Offline
Site Admin
User avatar

Joined: Sat Oct 21, 2006 3:01 pm
Posts: 13002
Location: newcastle
http://www.guardian.co.uk/money/2010/ap ... mpensation

_________________
Image


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Sun Apr 25, 2010 7:49 pm 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Sun Apr 25, 2010 7:55 pm 
Offline
Information Mine
User avatar

Joined: Sun Oct 29, 2006 11:42 pm
Posts: 3965
Location: Dumfries
Good to see the link back to the forum, is that a first. I for one have never seen it before. Enjoyed Suzy's link also never seen that one before. :D :D

_________________
John Boy


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Sun Apr 25, 2010 8:05 pm 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Sun Apr 25, 2010 8:20 pm 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian
PostPosted: Thu Feb 17, 2011 7:35 am 
Offline
Site Admin
User avatar

Joined: Sat Oct 21, 2006 3:01 pm
Posts: 13002
Location: newcastle
http://www.guardian.co.uk/politics/2011 ... -sir-clive

_________________
Image


Top
 Profile  
Reply with quote  
 Post subject: Re: THE GUARDIAN
PostPosted: Tue Feb 14, 2012 10:36 pm 
Offline
Information Mine
User avatar

Joined: Wed Nov 01, 2006 12:07 pm
Posts: 5866
Location: Lancs.

_________________
We walked the long and winding road to get a measure of justice.
Image


Top
 Profile  
Reply with quote  
PostPosted: Tue Feb 14, 2012 11:03 pm 
Offline
Information Mine
User avatar

Joined: Wed Nov 01, 2006 12:07 pm
Posts: 5866
Location: Lancs.

_________________
We walked the long and winding road to get a measure of justice.
Image


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian (merged)
PostPosted: Sun May 20, 2012 10:41 am 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh
http://www.guardian.co.uk/business/2012 ... sfeed=true



Former Farepak board lined up for punishment – but Glencore's investors are free of their shackles

Simon Goodley

The Observer, Sunday 20 May 2012



Sir Clive Thompson: in for a bruising. Photograph: Graham Turner for the Guardian


It's either very early, or rather late, for a spot of panto, but the curtain goes up on Thursday on the tale of the posse accused of cancelling Christmas.

Playing the roles of the pantomime villains will be seven out of nine former board members at failed hamper business Farepak (and its parent) who are charged with being "unfit to manage a company" by Vince Cable. The business secretary, via the Insolvency Service, is looking to have them disqualified as directors.

The list of those being lined up for a public heckling is understood to include Sir Clive Thompson, former chief executive of Rentokil and chairman of Farepak's parent, European Home Retail (EHR). Also believed to be on the cast list is Neil Gillis, once boss of Blacks Leisure and an EHR non-executive. Neither responded to requests for comment.

Still, like many Christmas stories, most feel they already know this tale pretty well. Thousands of Farepak customers, mostly on modest incomes, lost savings put into a fund for Christmas gifts when the company went bust in October 2006.

There was no happy ending for them, nor for Farepak execs Stephen Hicks and Joanne Ponting. Both have already coughed and have promised not to act as company directors.

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian (merged)
PostPosted: Thu May 24, 2012 11:55 am 
Offline
Site Admin
User avatar

Joined: Sat Oct 21, 2006 3:01 pm
Posts: 13002
Location: newcastle
http://www.guardian.co.uk/money/2012/ma ... sfeed=true



Farepak victims await directors ruling

Seven Farepak directors face being struck off as company bosses for up to 15 years, but victims stand to gain nothing more than a 'quiet satisfaction'

Lisa Bachelor

guardian.co.uk, Thursday 24 May 2012 07.30 BST



Sir Clive Thompson, former Farepak chairman, faces a disqualification hearing at the high court. Photograph: Graham Turner for the Guardian


Victims of the collapse of Christmas hamper firm Farepak could be a step closer to justice as the company's directors face a judge in London's high court.


Farepak was designed to help low-income customers save for Christmas by taking monthly payments throughout the year and turning them into either food hampers or vouchers for use in shops during the festive period. The company went bust on 13 October 2006 with customers losing an average of £400, and a campaign group Unfairpak was launched.


About 5,900 Farepak customers who paid money into their accounts after the company went bust received cheques in September 2009, but many are still owed money paid in before the date of liquidation. Now, seven directors of the firm face being struck off as company bosses for up to 15 years.


The case, which has been taken by the Insolvency Service, has made it to court after a series of delays. It has come about after Vince Cable, the secretary of state for business, innovation and skills, issued proceedings against nine former directors of the company and its parent company European Home Retail in January 2011 in a bid to stop them working at any other company at management level.


Two of them, Stephen Matthew Hicks and Joanne Elizabeth Ponting, have since accepted disqualification as directors but the remaining seven, including chairman Sir Clive Thompson, face a disqualification hearing at the high court.


Louise McDaid, chair of Farepak Victims Committee, said that while the court case might at best result in a "quiet satisfaction" for victims of the former hamper company, it was "totally inadequate" as a measure to deal with their losses.


"For us, the bottom line is does it give us our money back or put regulations in place to stop it happening again? The answer is no," she said. "It has taken five years to get to this point. We believe it should be a criminal court that the directors are in."


While victims of the collapse have waited for compensation, the cost of dealing with the administration has exceeded any potential payout for its victims, McDaid said.


The case will start on 24 May 2012 and is expected to conclude within days.

_________________
Image


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian (merged)
PostPosted: Thu May 24, 2012 7:19 pm 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh
http://www.guardian.co.uk/business/2012 ... sfeed=true


Vince Cable lawyers call on high court to ban former Farepak bosses from being company directors for up to 15 years




The bosses of Farepak, the Christmas hamper business that went bust leaving 116,400 people out of pocket, were yesterday accused of being "unfit" to run a company.

Lawyers acting for the business secretary Vince Cable called on the high court to ban the former Farepak bosses from being company directors for up to 15 years.

Malcolm Davis-White QC, for the Insolvency Service, part of the business department, said Farepak's former bosses, including Sir Clive Thompson, a former president of the CBI and chief executive of Rentokil, had taken "unreasonable risk" with prudent savers' money.

Davis White said Farepak was still accepting "about £1m a week" from customers on low incomes right up until its collapse in October 2006 even though the company had "identified a risk" that it might not have enough cash to pay its suppliers as far back as November 2005.

"With alarming cashflow projections available from early April 2006 warning of a lack of sufficient cash in the group from October 2006 onwards, various unsuccessful attempts were made by the group to find a solution to the funding crisis," Davis-White said. "Throughout this period, savers' weekly payments (amounting by October to £2m per week) continued to be collected by Farepak and swept up daily into the group account, unprotected by any trust account or similar arrangement."

Davis-White said Farepak's customers continued to scrape together their monthly payments to the scheme with "no inkling" of "any serious risk" to their savings, while the company's bosses were well aware of the risk of failure.

"The collapse did not come out of the blue," Davis-White told the high court on Thursday. "Directors tried one possible means of raising finance after another. But nothing came of any of these.

"The collapse of the group left tens of thousands of Farepak savers, whose socio-economic profile meant they were drawn from some of the most financially vulnerable members of society, out of pocket for Christmas 2006 and with no prospect of obtaining either vouchers for Christmas 2006 or any immediate distribution in relation to their claims as unsecured creditors."

Davis-White indicated that Farepak might not have collapsed if its funds had not been "swept up every night to EHR [Farepak's parent company, European Home Retail]". At the time of the collapse, Farepak was owed £35m by EHR, which was chaired by Thompson. EHR also collapsed.

The judge, Mr Justice Peter Smith, described Farepak's business model as a "helpful arrangement where they get the money 12 months in advance".

Neil Gillis, a former chief executive of Blacks Leisure, and five other directors, are also facing the threat of being banned from standing as company directors for between two and 15 years. Two others have already agreed not to act as directors.

Suzy Hall, a former Farepak saver who set up campaign group Unfairpak, said she was "delighted" that the legal proceedings had finally begun five-and-half years after the collapse. "We hope justice will finally be served in respect of 116,400 prudent Christmas savers who had £30m taken from them and their Christmases ruined."



Can I just clarify I did NOT set up Unfairpak that was down to the wonderful Paul Sergeant

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian (merged)
PostPosted: Wed May 30, 2012 9:52 am 
Offline
Information Mine

Joined: Wed Apr 28, 2010 11:23 am
Posts: 140
I hope you are right Suzy and that justice will be served. Judging on the fact that two directors decided they were 'guilty as charged' and took voluntary disqualification, I am quietly confident that the remaining 7 will be found guilty and hopefully banned forever! As a matter of interest, should they be found guilty, is there any way in which the dividend may rise as a result of that?

Esther


Top
 Profile  
Reply with quote  
 Post subject: Re: Guardian (merged)
PostPosted: Wed May 30, 2012 11:17 am 
Offline
Site Admin
User avatar

Joined: Wed Oct 18, 2006 7:14 pm
Posts: 10990
Location: Edinburgh

_________________
All good things come to those who wait!!!


Top
 Profile  
Reply with quote  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 216 posts ]  Go to page Previous  1 ... 10, 11, 12, 13, 14, 15  Next

All times are UTC [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB® Forum Software © phpBB Group