On 25th July 2013, Liam Collins had his preliminary Bankruptcy Restriction Order (BRO) hearing at Newcastle County Court. At this hearing, Liam Collins was asked whether he agreed with the findings of the Official Receiver on a point-by-point basis. Liam Collins contested 3 main points:
- The partners mis-appropriated investors monies, using the monies in a manner wholly unrepresentative of the representations that the partners had given to investors. I.e. the partners defrauded investors.
- The partners, minimally as of January 2010 onwards, were trading whilst insolvent. They were effectively operating a ponzi scheme.
- The partners purposefully mis-informed investors about the state of the business, minimally as of January 2010 onwards.
- Liam Collin's partner, David Bone Jnr, accepted the Official Receiver's findings at Wigan County Court on 1st August 2013 which obviously did not help!
- Liam Collins has no evidence to contest these findings.
The reason for the complete lack of activity on this blog for the past several months has been at the explicit request of the Official Receiver so as not to jeopardise in any way his investigation. The Editor has been happy to comply with this request and help bring the Official Receiver's investigation to a fruitful closure.