Old Message Board
Posted: 7/6/2011 5:21:35 AM
By: News Girl
This is the firm in charge of Invaro's liquidation
Mr Marchant, looks as though your assessment of the liquidators was correct
Posted: 7/6/2011 4:13:28 PM
This gets even more bizarre.
At least we know the value of that doggy in the window - the one with the waggly tail.
Posted: 7/6/2011 1:46:54 PM
By: David Marchant
I was told a few years ago that the SFO was investigating Invaro but I haven't heard anything since then. I hold the SFO in low regard and I wouldn't have much confidence in them conducting a professional investigation that resulted in any convictions. Slow and unsuccessful is how I would describe the SFO.
Posted: 7/6/2011 1:19:18 PM
I thought the SFO were prosecuting this lot
Posted: 7/6/2011 12:48:25 PM
I will look into this although I must say that OffshoreAlert has previously reported extensively about the dubious activities of the Invaro liquidators and their advisors, particularly Geoffrey Sparks and his law firm, Charles Russell, and nothing was done by any of the British authorities.
I consider the UK to be a third-world country when it comes to holding anyone responsible for their actions. The culture of the country is to pretend that nothing is wrong and avoid the truth at all costs.
A classic example is the telehpone hacking scandal that is engulfing Rupert Murdoch's newspaper 'News of the World'.
In a nutshell, NOTW routinely intercepted telecommunications and hacked into voicemail accounts, including those of crime victims', in order to obtain stories.
There were three internal inquiries by Murdoch's company, two Press Complaints Commission inquiries and a police investigation - all of which found no illegal activity, apart from a criminal prosecution of a "lone" reporter, as you can read at http://www.mirror.co.uk/news/top-stories/2011/07/06/phone-hacking-scandal-david-cameron-under-pressure-to-act-115875-23250545.
The scandal flared up again several months ago and it turns out that the previous inquiries were conducted incompetently and/or corruptly, which is typical for a British inquiry into anything involving powerful figures, and that NOTW's illegal conduct was so out-of-control that the newspaper hacked into the voicemail of a murdered teenager and deleted messages.
The activity is typical of Rupert Murdoch's amoral nature in his pursuit of money. He is the epitome of capitalism and, in my opinion, one of the most negative influences in the world, given the global reach of his news organizations. He dumbs down everything he owns and his business will seemingly do anything in a quest to generate profits.
Posted: 7/6/2011 12:32:45 PM
Allegedly a partner has absconded with £2.5m of clients' money.
I wonder if any of this was Invaro's creditors as from the last report it looks as though they had money in from The Rock.
Despite a claim in the report that this was £2m I have been told by an ex-Invaro employee that this was closer to £5m.
They also told me that Godley and his team continued to take money from the investors over a year after Invaro's liquidation.
Where has it gone - one for David to investigate I would have thought.
Posted: 7/6/2011 8:17:41 AM
That Bridge Business Recovery, which specialized in business advisory and rescue services, should go bust after four or so years in business says everything anyone needs to know about their lack of abilities in this area.
The Invaro liquidation, which was overseen by two of Bridge Business Recovery's partners, Tony Murphy and Rob Horton, was a disgrace and, frankly, a scam. The liquidators essentially helped Bill Godley, a convicted fraudster, to continue to defraud Invaro's creditors and investors post-liquidation. This was all done with the assistance of one of England's biggest law firms, Charles Russell Solicitors, particularly through one of its partners, Geoffrey Sparks.
Despite the fact that Charles Russell had provided legal services to Godley that helped him to defraud Invaro's investors of millions of dollars, the liquidators appointed the Charles Russell as the legal advisors to the liquidation.
The Invaro liquidation was a crude scam. Barely any effort was made by the liquidators and their advisors to cover up what was going on. It's the type of complacency that comes from knowing that the criminal, regulatory and professional disciplinary bodies in Britain are so ineffective and useless that there are virtually no consequences to your actions.
Posted: 7/7/2011 11:35:01 AM
This reminds me of another case... Anthony Kikivarakis and Deloitte Bahamas has milked the clients of Caledonia for more than $3mm over 3 years, just to return their fiduciary assets to them and investigate a shortfall of between $500k and $1mm. At the same time Kikivarakis has built a massive 10,000 sq. ft. house for himself. We are still waiting for a final ruling from the Bahamian Courts on the "capped" amount that Kikivarakis can be paid for the remainder of the work to be completed, which should include the treatment of the shortfall. I have no idea why it is taking so long.
Posted: 7/7/2011 10:54:15 AM
Interestingly, the liquidators of Invaro have not filed a 'Statement of Receipts & Payments' since January 21, 2009 - i.e. two-and-a-half years ago. Prior to then the liquidators were filed such statements twice per year.
The liquidation of Invaro by Tony Murphy, Robert Horton, Henry Shinners (no longer a liquidator) and Charles Russell Solicitors is one of the most shambolic and disgraceful that I have ever come across as a journalist.
Such a liquidation would never be allowed to happen in the USA, whose legal system is light years ahead of the UK's in terms of dispensing justice and holding people accountable for their actions.