Welcome Finance - This company needs to be banned.

[UnWelcomeCharges]

The muppets at the local shop here just answered the phone, I wished them good luck in the job hunt. lol

 

. . . a good mature action! I like it

[scarborosmoggy]

I thought it was the nice polite thing to do, afterall they hounded me something cronic when I lost my job, they didn't wish me luck then in finding new employment, just the decent human thing to do to wish them well.

[UnWelcomeCharges]

I thought it was the nice polite thing to do, afterall they hounded me something cronic when I lost my job, they didn't wish me luck then in finding new employment, just the decent human thing to do to wish them well.

 

A valid point, you should now add £10 to their bill for making the phone call

[scarborosmoggy]

I might send a good luck card also (£15) and also do another and post it through the door just incase royal mail fail to deliver it, you know what they're like (£25).

[Beck1968]

Dodgy Agreements = Waste Paper......they can always sell that

[UnWelcomeCharges]

I'm waiting to get an offer of a cheque, so I can lift it personally from the branch!On arrival, loudly announce that I'm here to lift the cheque for PPI that I didn't want! (After the people in that office had previously told me that I'd signed for it, so tough basically)

[jdene]

well this is the latest i can find

 

Published Date: 14 July 2009

By John Collingridge, City Reporter

 

 

STRICKEN sub-prime lender Cattles was last night locked in eleventh-hour talks with its banks and bondholders, as a key refinancing deadline looms.

The Batley company is desperately trying to secure the backing of a syndicate of 22 banks to refinance a £500m credit line, which expires today. If the company fails to win the backing of its creditors, it faces going into administration.

 

Last wee ADVERTISEMENT

[/url]

 

 

 

k the company defaulted on an interest payment on a £400m bond, leading ratings agency Fitch to downgrade its debt rating.

 

Analysts believe its talks with the syndicate of 22 banks, led by Royal Bank of Scotland, hinge on foreign banks being persuaded to roll over some of the debt.

 

One analyst said while UK banks are more likely to agree to roll over the debt, as they are under political pressure to maintain lending, foreign banks will be less sympathetic as they focus on domestic markets. "When businesses are in trouble, they hunker down on core markets," he said. "Why are they (foreign banks) going to commit to UK small-cap lending?"

 

Banks and bondholders are also understood to be locked in a debate over who ranks first should the company fall into administration. Banks argue they rank highest in payment priority, bondholders dispute this.

 

It has sacked six directors and parted company with chief executive David Postings after an independent investigation found serious flaws in the way it accounted for bad debts, blowing a potential £850m hole in its accounts.

[jdene]

sorry dont know how that add got in there can someone remove it so just the text is left

[jdene]

Think I managed to remove it

[zaidey]

this is doing my head in

[tottys]

no more news yet maybe i will go have another chat to bindi see if she knows more.....

[jdene]

there are 7 guests as well waiting to hear must be a big announcement

[Beck1968]

Maybe its a .......Silent but deadly

[tottys]

wow have never seen so many ppl on one thread dont think i have enough glasses....

[Beck1968]

Time for a Totty Bottle then :lol:

[tottys]

will have to share everyone have a sip and pass it on...

[tottys]

am off again now kids are hungry please keep some champs for me :lol:

[postggj]

Hi People

 

Sorry

Doctors Appointment

 

Still No News Then

 

Making A Phone Call

[JonCris]

Can I just point out that whoever takes on the book debt, as someone will, MUST also accept the liabilities. A simple fact that makes me think that anyone who does take it on must either be completely unaware of what the books represent in the way of mis-sold PPI & unenforceable agreements....or are completely stark raving bonkers

Edited July 14, 2009 by JonCris

[JonCris]

If no one takes on the book debt & Cattles aka WFC is allowed to go bust the liquidator (poor sod) is going to have a hell of time trying to collect even from those who can pay

[zaidey]

well its 19.43 pm and no news yet....ive been googleing everywhere but nothing...

[postggj]

lns will inform me as soon as it goes on the wire

 

its just a waiting game ime afraid

[EBOY]

I wouldn't worry too much I would expect some news tomorrow. Just thinl of all the welcome staff who are wondering what tomorrow will bring.

[postggj]

chained doors and

changed locks i hope

 

ive been waiting two years for this moment:-)

[welcome finance warrior]

Can I just point out that whoever takes on the book debt, as someone will, MUST also accept the liabilities. A simple fact that makes me think that anyone who does take it on must either be completely unaware of what the books represent in the way of mis-sold PPI & unenforceable agreements....or are completely stark raving bonkers

 

 

Is this a legal rule based on fact or just an assumption?