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...
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 Post subject: BLOG NEWS
PostPosted: Sun May 20, 2012 10:58 am 
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You can click link here to go direct to the latest blog or you can simply view from http://www.unfairpak.co.uk and click BLOG/NEWS

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 Post subject: Re: BLOG NEWS
PostPosted: Sun May 20, 2012 10:58 am 
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http://www.unfairpak.co.uk/2012/05/19/c ... secretary/

Information regarding Company Secretary

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 Post subject: Re: BLOG NEWS
PostPosted: Sun May 20, 2012 10:19 pm 
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:D

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 Post subject: Re: BLOG NEWS
PostPosted: Fri May 25, 2012 7:57 am 
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http://www.unfairpak.co.uk/2012/05/24/f ... -may-2012/


Farepak Directors Trial Day 1

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 Post subject: Re: BLOG NEWS
PostPosted: Sat May 26, 2012 4:35 pm 
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http://www.unfairpak.co.uk/2012/05/26/t ... -may-2012/

Farepak Directors Trial Day 2

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 Post subject: Re: BLOG NEWS
PostPosted: Wed May 30, 2012 9:18 am 
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The blog is excellent and as I have said already today, I sincerely hope that at least one reporter picks up on the fact that we deserve answers and it is their job to give us answers. We are the people who purchase and read their papers!

Esther


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 Post subject: Re: BLOG NEWS
PostPosted: Wed May 30, 2012 11:48 am 
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Reporter been on phone and in court now so hopefully we will get some tweets :mrgreen:

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 Post subject: Re: BLOG NEWS
PostPosted: Thu May 31, 2012 5:48 pm 
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http://www.unfairpak.co.uk/2012/05/31/f ... ibilities/


Director's Responsiblities and Appointments.

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 Post subject: Re: BLOG NEWS
PostPosted: Tue Jun 05, 2012 6:34 pm 
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http://www.unfairpak.co.uk/2012/06/05/a ... nd-skills/


Allegations made by Secretary of State against Farepak EHR Directors.

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 Post subject: Re: BLOG NEWS
PostPosted: Tue Jun 05, 2012 11:08 pm 
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Me like the allegations :D

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 Post subject: Re: BLOG NEWS
PostPosted: Wed Jun 06, 2012 10:57 am 
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Taken from Skeleton Argument – THE SECRETARY OF STATE FOR BUSINESS INNOVATION AND SKILLS

Unfairpak would like to point out that these are allegations only and all persons named are innocent unless proven otherwise!!!!

5. The allegations of unfit conduct are, in very broad form, as follows:

5.1. Causing or permitting EHR to trade at the unreasonable risk of its creditors for the period from November 2005 (all defendants other than Mr Fowler) to the collapse in October 2006 and for the period from January 2005 to the collapse in October 2006 (Mr Fowler, who only became a director of FFG and EHR in January 2006) and, in the same periods, failing to ensure that that the FFG board was functioning adequately;

5.2. Causing or permitting FFG to trade at the unreasonable risk of its creditors for the period from November 2005 (Mr Rollason and Mr Gilodi-Johnson) to the collapse in October 2006 and for the period from January 2005 to the collapse in October 2006 (Mr Fowler, who only became a director of FFG and EHR in January 2006);

5.3. From 14 November 2005 (Mr Rollason and Mr Gilodi-Johnson) and from 1 January 2006 (Mr Fowler) seeking to mislead, alternatively failing to take adequate steps to inform, the boards of each of FFG and EHR of the developing financial situation in relation to a forecast inability of EHR to put FFG in funds to pay its major supplier at the end of January 2006;

5.4. In February 2006, failing to give any or any adequate consideration to (a) matters set out in a letter of representation provided to the auditors of FFG; (b) whether the financial statements for FFG for the period ending 28 April 2005 gave a true and fair view including by reference to any material post balance sheet events and (c) whether FFG’s auditors should have been informed of an inability of FFG to pay £5.6m due to its major supplier at the end of January 2006 and/or the collapse of such major supplier thereafter (Mr Rollason and Mr Fowler) and, in the case of Mr Rollason, permitting financial statements for FFG for the April 2005 year end to state that they had been approved by the board of FFG when the board had not met and had not approved the same;

5.5. From February 2006, failing to take adequate steps to inform the boards of EHR and FFG of the developing financial situation (Mr Rollason, Mr Fowler and Mr Gilodi-Johnson);

5.6. Seeking to mislead investigators appointed under s447 of the Companies Act 1985 as to the reasons for the failure of FFG, and its financial inability, to pay its major supplier at the end of January 2006 (Mr Rollason and Mr Fowler).

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 Post subject: Re: BLOG NEWS
PostPosted: Sun Jun 10, 2012 6:03 pm 
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Directors’ Duties in the matter of Uno plc and World of Leather plc [2004]

Posted on June 10, 2012


Unfairpak can confirm that this case has been referred to in the Defendant’s Skeleton Arguments.



Directors’ Duties In the matter of Uno plc and World of Leather plc [2004].



In this directors’ disqualification case it was accepted by the defendant directors that they were aware that the Group of Companies was in financial difficulties; that they continued to take deposits from cash paying customers; that they failed to segregate those deposits and that they knew that there was a risk that if the Group went into formal insolvency before customers received delivery then the customers would be unsecured creditors and would not receive the goods ordered or the refund of their deposits.



The Court agreed, however, with the submission made on behalf of the defendant director that their conduct did not amount to unfit conduct warranting a Disqualification Order. The reason for that was that the Secretary of State had overlooked the all important concession that, at all material times, the defendant directors had reasonable grounds for believing that insolvent liquidation could be avoided.



The Judge found that the defendant directors could not be criticised for their conduct. His detailed summary of the directors’ actions in the case showed that:-



1. They constantly reviewed the Company’s options.



2. They regularly received and considered updated financial infor mation.



3. They regularly took professional advice from solicitors and accountancy experts.



4. They kept their major creditors and suppliers fully informed of the actions they were taking.



5. They had gone out of their way to try and secure a solution which had reasonable prospects of succeeding and which, if achieved, would have satisfied all of the Group’s creditors not least its cash paying customers; and



6. They minuted key decisions taken and the reasons for them.

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 Post subject: Re: BLOG NEWS
PostPosted: Sun Jun 10, 2012 6:50 pm 
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This does not look very encouraging, but on the other hand it does not sound anything like Farepak, so hopes are still high at this end. :D :D

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 Post subject: Re: BLOG NEWS
PostPosted: Sun Jun 10, 2012 8:49 pm 
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It's a case the directors are quoting in their defence John.

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 Post subject: Re: BLOG NEWS
PostPosted: Sat Jul 07, 2012 11:13 am 
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http://www.unfairpak.co.uk/2012/07/06/u ... om-lloyds/

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