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Share Name Share Symbol Market Type Share ISIN Share Description
Erinaceous Group LSE:ERG London Ordinary Share GB0033838276 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.65p 0.00p 0.00p - - - 0 05:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 227.2 18.8 13.4 0.1 1.77

Erinaceous Share Discussion Threads

Showing 3676 to 3698 of 3700 messages
Chat Pages: 148  147  146  145  144  143  142  141  140  139  138  137  Older
Shame shareholders cannot take him to court for their losses and get some return there ?
14/6/11: 2.36 pm update: McGarry has been sentenced to 7 Years. Afsal 13 Years.
simon gordon
Times - 20/12/09: £50m loans in mortgage 'fraud' Six people have been charged in relation to a series of alleged commercial mortgage frauds worth close to £50m. The network of alleged fraudsters is accused of selling properties between one another in a number of back-to-back deals at highly-inflated prices. They are alleged to have then used the inflated sale prices, fraudulent valuations and forged leases to obtain loans from banks and building societies. After receiving the mortgage cash, they then defaulted on the mortgages - leading to large losses for the mortgage lenders. The charges follow an investigation by the Serious Fraud Office and West Midlands Police, and date back to a complaint made by the Cheshire building society in 2006. The case has been sent to a preliminary hearing at Southwark Crown Court to be heard on January 4. Ian McGarry, 40, who was at the time a chartered surveyor with Dunlop Haywards Lorenz, has been charged with conspiracy to obtain a money order by deception and dishonestly obtaining a money order. The same charges have been made against Fatema Patwa, 37, and Hardeep Sodhi, 33, of Birmingham-based Patwa Solicitors; Laurence Ferrigan, 38, a partner at The CFB Partnership, a firm of solicitors in east London; and Saghir Afzal, 37, a company director and property owner. Simon Lawrence, 38, who was a partner of Darlingtons Solicitors in Edgware, London, has been charged with conspiracy to obtain a money order by deception.
simon gordon
Hi Simon. Anyone got a copy or a link to the Creditors Report referred to in article above? Cheers
Property Week - 8/8/08: Erinaceous's £205m debt toll Creditors report reveals huge losses for Bank of Scotland, Lloyds TSB and HSBC Erinaceous's spectacular April collapse has left creditors out of pocket to the tune of £205m, it emerged this week. A 145-page creditors report from administrator KPMG, obtained by Property Week, shows that creditors are owed £205m following the biggest-ever failure of a UK property services firm. KPMG estimates that property 'one-stop-shop' Erinaceous's lenders, Bank of Scotland Corporate, Lloyds TSB and HSBC, will be unable to recover at least £108m of the £235m they are owed since it went into administration. The remaining £126m of debt was swapped for control of three of Erinaceous's divisions: Erinaceous Insurance Services, which was valued at £125m, and the residential management and property maintenance businesses, worth £500,000 each. Unsecured creditors are not expected to recover anything, and will be left £97m short of what they are owed. As well as Revenue and Customs, which is owed £10m, unsecured creditors include Erinaceous staff owed wages and bonuses, and property firms Savills, Grosvenor, DTZ and Stiles Harold Williams. The banks had hoped to engineer a rescue of the group by finding a buyer for Erinaceous Insurance Services at the start of the year but were unable to do so. They are now running the division until a buyer is found. Along with the residential and property maintenance divisions, Erinaceous Insurance Services has been spun into a new business, Caley. This is being run on behalf of the banks by Tim Redburn and Dominic Lavelle, the men brought in to Erinaceous to try and save the company at the end of last year. The banks have extended a further £60m credit facility to Caley, Companies House documents show. Of the businesses KPMG was able to sell, architecture firm Leach Rhodes Walker netted the most, £1.5m. Quantity surveyors Francis Graves and Dearle & Henderson were sold for a total of £80,000 to Francis Graves managers. The Milton Keynes and Bedford offices of Douglas Duff were sold to management for £75,000, as was auctioneer Harman Healy, for £25,000. Commercial agency Egan Lawson was sold back to management for £25,000. Albemarle, the private investor syndicate managed by Geoff Egan, bought Shoreham airport for £10. KPMG's report said that, as with all administrations, an investigation is ongoing into the conduct of the directors and a report will be submitted to the secretary of state by October if necessary. Founding chief executive Neil Bellis and chief operating officer Lucy Cummings left the company in November. They are not listed as creditors, but Juliet Bellis & Co, the law firm of Bellis's wife Juliet, which was involved in some of the myriad legal claims, is owed £26,880. A creditors meeting is scheduled for next Tuesday.
simon gordon
Good insight on ERG breaking up: ----- Insight on Lucy Cummings:
simon gordon
For Sale.Share certificate with Commemorative logo mug.Administrators need not apply!
Thank ye gods for my investment order that BSL online managed to fail to execute, it was a busy minute, admittedly. Sorry to hear the news, holders - good luck with your other investments.
Well done David (hope this was never an investment!). Earned a profit here some months ago; 2-3 days trading, always out asap due to the risk of suspension. Agree it were always going down the swanny! Now im going to ramp two stocks (i dont have any shares in them but i use to) and they are CHL and GFM. Very low risk and both have very good potential in the short to medium term, great long term.
Blimey, that was a close lucky having decided to cut losses and bail out on Friday... timing stunningly right for once. DL
Problem with pump and dumpers is they never usually get caught holding the baby, they just move onto the next rubbish stock where they will write any old lie in the hope of sucking you in. The mtv thread(s) are classics, read one person under so many different names ramp it non stop over the last 12 months, he even created a username under the CEO to pump and dump it !
All deserved what they got. Pick out the posts from those of us who knew a long time ago this was going to happen. Anyone know how the banks have managed to get the profitable bit sold into the SPV owned by them? Surely the administrators have a legal duty to all creditors not just the banks? They'll obviously now just break it up for as much as they can get, having failed to find a buyer to take on the whole thing.
Looking back over the last few months this was pumped and dumped by three of the worst posters that operate on the site. Andrbea. posting as harki/tryinghard2 powertalker....well it's a guessing game what username he is currently using, last seen one was crimewatcher...some nerve !
And he also pumped it under this name ! Sand Frog - 20 Dec'07 - 14:10 - 2634 of 2979 looks to me like a serious bounce is on the way...ive also heard pretty good whispers that a bid is on its way...dont think 35p per share more in the region of 15-18p..dyor
Picked a random number and first post i see from prolific pump and dumper motivetv/goodtiming/powertalker etc etc gearing9 - 13 Dec'07 - 13:46 - 2501 of 2978 Starting to Climb again now remember £180 MILLION TURNOVER, MKT CAP JUST £7 MILLION.... THIS IS NOT GOING BUST..
April 14, 2008 Erinaceous calls in KPMG as administrators
Well, it's all over. Only surprise, is that it took so long!
Administration? The banks have has this in an informal admistration since last September anyway while they slipped any value away.
Suspension RNS Number:2375S Official List 14 April 2008 NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST 14/04/2008 7:30 AM TEMPORARY SUSPENSION Erinaceous Group Plc The Financial Services Authority ("the FSA") temporarily suspends the securities set out below from the Official List effective from 14/04/2008 7:30 AM at the request of the company pending clarification of the company's financial position:
The "Last Rites"
This is a good one. A subsidiary company (Dunlop Haywards) is suing Erinaceous Insurance who are in turn suing an external broker for not providing adequate PI cover. The strike out application has been knocked back so it needs a full High Court trial to resolve. I think as a specialist insurance company themselves EIS will struggle to blame another party and they must have filled in a proposal for and there is a serious prospect therefore that DH win against EIS who cant then recover from their brokers. That is all interesting and will all come out in the wash in due course The key point however is that DH had only £10M cover (they were not covered by the excess £10M) and that amount has already been used up in relation to the Cheshire claim with the final judgement still to come. They might ultimately be able to recover from their broker's PI but that wont happen in a hurry and so they are exposed to the balance of the Cheshire payout. Anyone making a bid for EIS is going to reflect this mess in the price. £100Million - No chance!!
dell someone just bought more than 900 quid's worth (62k buy) price now up 6% I just reckon it's becoming a day trader's carpet the share is living 1 day at a time the rug could be pulled at any time... talk about living on the edge.... imo dyor
Courtesy of Moneyman UK on the iii board The bribes, I mean retention bonuses have been paid, those capable of securing new jobs are resigning. The new management don't have a clue!
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