This blog was established to help get to the bottom of how the Collins & Bone Partnership reached the very sad situation it is now in, with its partner Liam James Collins having a bankruptcy hearing on 25th January (postponed)15th March 2012 (ditto), and finally bankrupted on 9th May 2012 (case # NEWC 1517 of 2011 BKT 3472187, Newcastle County Court, The Law Courts, The Quayside, Newcastle-upon-Tyne, NE1 3LA), and David Bone Jnr declared bankrupt on 31st May (case no 100 of 2012 Wigan County Court). The partnership used the following addresses:

25 Shelton Street, Covent Garden, London, WC2 H9HW, UK

Eastern Villa, Station Rd. North, Forest Hall, Newcastle Upon Tyne, NE12 9AE (owned by Liam Collin's parents, and now up for sale)

There are 3 specific goals of this blog:

• To find out what happened to the 1m+ GBP monies that C&B raised via PNs in late 2009, 2010 & 2011. I am excluding PNs issued to ex-CBS investors, but that said, this blog will be of interest to ex-CBS investors, and there is information that needs to be obtained from this set of investors wrt when PNs were issued to them, and their duration.

• To determine what, if any, criminal charges should be brought against the partners.

• To warn other investors off doing any business with the partners, their equally inept/unscrupulous extended family members, and supportive cohorts.

When you look at the PNs, there are no specific statements on the documents that specify how the monies were to be used - how you believed they were to be used is based on whatever e-mail/phone call foreplay you had beforehand with Liam Collins. That is why it is so important that the following information is collated for this category of C&B investors on an individual basis:

1) What did you believe you were investing in, and what was your basis for believing this?
2) What investment risks were you informed of?
3) What was your understanding of the purpose to which PN monies could be put?
4) What brochures and documents were you furnished with as prt of your due diligence?
5) What due diligence did you do?
This blog is being operated completely separate to Sally & Jasmine's blog (, although we share the common goal of getting to the bottom of this mess in a professional manner. If you don't want to post anything on the blog in person, you can send an e-mail to me at - information conveyed in any such e-mails will only be posted on the blog on your behalf after any editting/your specific consent.

Ewart (The Editor)

Sunday, 18 March 2012

"pro-IVA group" - educate yourselves!!!

Unlike the C&B partners' exploitative use of investor contact details for their own selfish ends, the investors who operate the following blogs:
rely on getting the message out purely based on investors locating their blogs, reading the material, and sharing information with us. The vast majority of the information we gather is posted on the blogs for all to see ... we want to make sure that investors are as educated as they can be on the current state of affairs given the lack of pertinent information and accountability from the partners. If you want to know more, then you can get in touch through the respective blogs.

In relation to the adjourned bankruptcy hearing of Liam Collins on 15th March, and the subsequernt e-mails he sent out to what he believes are the respective anti-IVA and pro-IVA groups, all that I ask is that investors who are not already members of the anti-IVA group read the following articles in the order listed below on the IFS Blog to better educate themselves:

C&B assets - negative equity
Vote no to any IVA proposal
Liam's plea to wait for an IVA proposal
Liam's bankruptcy hearing & subsequent e-mails

The stance of the anti-IVA group is that no investor should sign-up to the ridiculous request made by Liam Collins below to support an IVA proposal when the most fundamental information of the current state of the business on which any such decision would be based has not been made available:

As a holder of a PN that C&B has long been in default of, you have a right to have access to the information being requested in these blog entries - you cannot properly engage an IVA practitioner without it! If Liam Collins wants to avoid being made bankrupt on March 22nd (he was only given a one week adjournment on the pretence of some issues that he needed to sort out with Mortgage Express - from the e-mails he sent out on March 15th it is evident that he has far, far more important issues to sort out), this information has to be made available to ALL INVESTORS. What the partners above are effectively asking investors to do is to support/show willingness to support an IVA proposal with zero information provided  (the texts themselves are not even clear as to what they are asking you to sign up to!). It is both your duty and your right to hold them to account.
I (name), confirm I am in favour of Liam Collins' (of the CollinsBone partnership) proposal to protect my investment via an IVA. I do not believe bankruptcy is beneficial to anybody. My investment currently stands at (amount) and I will firmly support an IVA proposal.

The Editor

No comments:

Post a Comment