Aero Inventory Share Discussion Threads

[nocton] 04/3/2011 14:34

Thanks for the info, This_is_me & Investoree. I did see the 1.1p value, but was not sure if that was enough for "negligible value" especially as it is not in HMRC's list. I was going to call HMRC when I did my tax return, but this will save me doing that.
For davidosh, the Administrator's number (KPMG) is 020 7311 1000

[this_is_me] 04/3/2011 13:47

If you want to know what to do about a CGT claim 'phone the tax helpline and go through their help procedure. Make sure that you keep records of dates, times and the person you spoke to every time you speak to someone.

[investoree] 04/3/2011 13:42

I have had protracted correspondence with the tax office over many months regarding a number of companies that have gone bust including Aero Inventory. On 17th May 2010 I received a letter from PD1 tax office following submission to their Shares & Assets Valuation Department who informed them that "The expected return is 1.1p in the pound which is enough to justify any negligible value claim from early November 2009 when the company went into administration. In view of the amount this will be allowed on a without prejudice basis subject to the general advice given above." I therfore submitted a loss for Aero Inventory for CGT (loss) purposes for the last tax year which has been accepted. Hope this helps. IE

[davidosh] 04/3/2011 13:20

Who did you call ? What is the excuse for not replying to you ? They are probably charging £400 for attending to your calls and email !! Ask for the reasons ? Can you put the number here too.

[hvs] 04/3/2011 13:19

Will the mismanagers here be held accountable.

Also the AUDITORS here should be brought to book.

[nocton] 04/3/2011 13:11

Since the shares have no value I contacted the administrators to see when they will appear on HMRC's web site as of "negligible value", so that one can use the loss against CGT. In February I rang twice and each time was told that they would get back to me - they did not. I then wrote a letter over two weeks ago - same result. Perhaps now the administrators will have the courtesy to let the shareholders know what is going on.

[maxk] 04/3/2011 11:21

Administrators to sell Aero Inventory
By Anousha Sakoui

Published: March 3 2011 23:15 | Last updated: March 3 2011 23:15

Aero Inventory is to be put up for sale by administrators more than a year after the aircraft parts wholesaler's collapsed.

Administrators at KPMG, who have been rebuilding the business over the past 14 months, plan to put it up for sale in the third quarter of this year, to coincide with an upturn in the aerospace sector.




The group owes senior lenders, including Lloyds Banking Group, some $500m (£307m), but they will not be repaid in full. The debt market's price indicates that lenders face recovering only 20 per cent of that. Unsecured creditors and shareholders' claims were wiped out.




.

[davidosh] 03/3/2011 14:10

ShareSoc a new UK individual shareholders society is keen to hear from any shareholders in Aero Inventory and certainly to hear about the progress with any action group. It is free to join ShareSoc at www.sharesoc.org

[hvs] 09/1/2011 15:25

Not heard anything.

They do look after their own though.

[davidosh] 09/1/2011 12:49

It has been over 15 months since the suspension of the shares. Was anyone charged with anything or any class actions organised by shareholders ?

[hvs] 08/1/2011 19:30

Is Letwin OUT there Free ?

[hvs] 07/11/2010 20:02

Just like THE English LEGAL system.

Made for Asylum seekers .In the CITY they go free CAUSE what they do
IS NORMAL behaviour.

LET the INVESTORS and TAX PAYERS pay.

[tday] 29/9/2010 17:01

cnx, I requested that the Institute look into the collapse of AI. However like all the regulatory authorities they are not very transparent on these matters, understandably so to a certain extent.

I also contacted the AIM Team (part of the LSE) but they can only go after companies not individuals, so as a regulator - utterly toothless and useless.

[hvs] 04/8/2010 13:08

Rupert Lewin

Is he JEWish ??? Just like Madoff ?

Must have a nice tan by now in sunny climes no doubt.

[cnx] 27/7/2010 21:10

t day what did you send?

[tday] 20/7/2010 18:15

Re my last post, emails should be sent to [e-mail]

[tday] 13/7/2010 17:21

I have writtern to the Institute of Chartered Accountants re Hugh Bevan and the auditors.

One lone voice won't get the ICAEW moving but, multiple complaints might stand a chance.

Emails should be sent to [e-mail]

[tday] 10/6/2010 17:24

Nocton, Ditto.

From my experience the only way to get any action against the directors is to chase up the FSA, SFO and the AIM Team - and to keep chasing. Not just one or two shareholders but many.

Also the ICEAW re Hugh Bevan - a Chartered Accountant.

[nocton] 07/6/2010 17:11

Further to my post on 1 June, to which it would be nice to have a reply to, I now find that the email address given on the web site bounces back as unknown. I have tried twice with the same result. Not a good start.

[mdj8] 07/6/2010 12:24

Daihard, just seen your message. These are the e-mail addresses of some of the fund managers whos funds held Aero stock as part of their portfolio. I contacted them before and received nothing back (likely because they have no idea who I am apart from being a shareholder). Perhaps you could send them e-mails from www.aeroaction.info to ask whether they have any plans for action we could join.

Aero Inventory - Gartmore smaller Companies fund/trust
[e-mail], [e-mail]

Aero Inventory - Lansdowne UK Equity Fund
[e-mail], [e-mail]

Aero Inventory plc - Hambros UK Growth/Opps funds
[e-mail]

Aero Inventory - Henderson European Focus fund
[e-mail], [e-mail]

Rgds

CC the action site.

[nocton] 01/6/2010 08:36

Interesting development, but the web site is short of details on the organisers of the action group. Can anyone give more details? What about the likely costs?

[daihardtoo] 31/5/2010 21:31

The only way that AI shareholders will get anything is to develop an action plan together.

Please forward this link to anyone that you know who lost money here.

[bizochio] 31/5/2010 21:09

Interesting article in observer relating to a pension fund considering suing BP for what it describes as management ineptitude which has cost them. Makes me wonder what case AI would have to answer as at the very least they are guilty of is managament ineptitude and more likely fraud. Shame we dont have a big pension fund fighting this one out.

'The pension providers are taking the company to court for the stock market losses attached to pipeline fractures that resulted in 200,000 gallons of oil being spilled and the Prudhoe Bay field being temporarily shut down. Accidents in March and August 2006 knocked billions off the BP share price, and Lothian is arguing that its funds have paid the price for management ineptitude.'

[davidosh] 28/5/2010 10:36

Why is there not a public meeting for all shareholders to decide what the next step is and to discuss the information that is public ? A class action is probably required with solicitors acting on very minimal cost basis but a share of the awards to shareholders.