Gable Hldgs Share Discussion Threads

[garbetklb] 22/4/2023 08:11

No - but I'd be extremely interested!

[bobbydaz] 21/4/2023 23:23

Anyone have any info on the high court case of Liechtenstein vs Dewsall and Hirchfield for 20mil fraud?

[solarno lopez] 11/12/2019 08:07

The Financial Services Compensation Scheme (FSCS) has revealed that £276m in compensation has been paid out to customers of collapsed firms Alpha, Enterprise, and Gable. New figures from the organisation place the price tag of each firm’s failure at £54m, £165m, and £57m respectively.


WITH THANKS TO INSURANCE AGE

[garbetklb] 13/8/2019 15:19

Hi Solarno / Jim

I think that knowledgeable poster was me.......!

My first 2 questions when considering an investment are :
- Do I trust management?
- Do I think management are competent?
Dewsall, who I had met when he was setting up Gable, failed both tests.

Google FSA Hogarth - Dewsall had been involved in selling Employers Liability policies issued by an unauthorised and/or imaginary insurer based, I think, in Northern Cyprus. I don't know if he knew they were not kosher, or he didn't - either way that means I wouldn't trust him and/or his judgement. I asked him about this and he said he was unable to discuss the matter - in retrospect, sounds rather like Trump being unable to release his tax returns.......

We discussed claim reserving and, in my view, he didn't know what he was doing - and I told him that our experience suggested that. Reasonably politely.

Bizarrely, I subsequently heard that he thought the meeting had gone rather well.......!

In my earlier posts here, I tried to warn people, without being too subjective - but, in typical bulletin board fashion, got slagged off.

There were so many red flags!

I would hope heads rolled in Lichtenstein - they were totally inexperienced in this area - and I wonder how / if they viewed the FSA / Hogarth issues......

I'd be interested in any sightings of WD in business.

[solarno lopez] 13/8/2019 10:36

We used to have a very knowledgeable poster on this board who outlined his/her concerns about the business model of Gable and he was so right

He may well have known Billy or worked in the insurance sector and again he/she was very knowledgeable about insurance

If he/she reads this please can we have your after thoughts

[garbetklb] 13/8/2019 10:19

I hold Burford Capital - unfortunately!

There's been a lot of commentary about their valuation of legal cases with a very wide range of views expressed.

I've repeatedly thought of the comparison to insurance - where companies have long sought to assess the likely outcome of legal cases etc. It's a much longer established industry and the cases tend to be smaller & more numerous. But it's not dissimilar.

Gable is a good example of how it can all go wrong........

To be clear - I am definitely NOT drawing any likeness between GAH & BUR. Merely pointing out that valuation of cases isn't a new problem.

[solarno lopez] 13/8/2019 09:14

He bought the Lordship which says it all, doesn't it

I understand he is assisting an American outfit and I believe he has started another insurance operation

[luckey jim] 13/8/2019 09:02

Solarno, please follow protocol, it is Lord William Albert Dewsall, to his friends (if he has any) Lord Billy. He is no longer just "Billy Dewsall". Do you know what his lordship is up to now?

[solarno lopez] 13/8/2019 06:49

Not bad are you Billy Dewsall ?

[solarno lopez] 28/5/2019 07:15

According to a final report filed by its administrators, Hogarth will now be subject to a creditors’ voluntary liquidation.
William Dewsall-owned Hogarth Underwriting is to go into voluntary liquidation according to documents filed on Companies House.
Sister title Post first reported that Hogarth will now be subject to a creditors’ voluntary liquidation.
Companies House was notified of the decision of 21 May. The move comes nearly a year after administrators from Begbies Traynor were appointed to the company on 24 May 2018.
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The administrators warned in this report that payments to unsecured creditors will be “significantly less than the 100p in the £ stated in the initial proposals”.
Gable
Hogarth Underwriting is an MGA owned by William Dewsall.
Most notably, Hogarth had a trading relationship with the insurer Gable, another Dewsall-owned business that has entered administration and then liquidation.
An administrator report filed at the beginning of the year revealed that Dewsall had not fully cooperated with requests for records: “Whilst some limited information was received, there remains critical information outstanding.”
Gable appointed a liquidator in November 2016.
Creditors
According to the documents payments from Hogarth to its creditors depend heavily on the company’s ability to recover funds from Gable.
Gable’s liquidators provided an update this month, stating that claims against the insurer could reach £328m. About £310m of that total relates to its insurance business, with the remainder resulting from bankruptcy fees.
As at 31 December 2018, Gable had assets totalling £66.5m, making it highly unlikely that creditors like Hogarth will be able to fully recover the funds they are owed.
Administrators for Hogarth questioned previous assertions by Gable: “Contrary to the information given by the company prior to administration, its creditors are significantly greater than its assets’ realisable value”.
Consequently, there could be a knock-on effect for Hogarth’s creditors.

[garbetklb] 08/5/2019 20:31

Hi Solarno
Who / Which US insurer??
Thanks
Garbetklb

[solarno lopez] 01/3/2019 10:48

whilst Billy lords it with a new US insurance company setting up in the UK....!

[bob evans1] 01/3/2019 10:46

Dewsall's side kick and Gable director Julian Connerty is lording it as a partner in a city law firm www.signaturelitigation.com/people/julian-connerty Unbelievable!

[luckey jim] 02/7/2018 10:42

Lord Billy's, Holgarth Underwriting Agencies Limited goes into Administration. It was not long ago when Holgarth was promoting Lord Billy's Gable with an offer of a £10 million loan to support them, to allow the regulators to allow Gable to continue trading. Looking at the accounts of Holgarth, it is very dificult to see how Holgarth could ever have made such an offer.

With Lord William Albert Dewsall busy with his Bond Wealth Management, the Administrators are trying to sort out the mess his Lordship has left behind at Gable, and trying to recover what they can for the many creditors of Gable. If the creditors get anything, they should invest whatever they get with Lord Billy and his Bond Wealth Management. This could be a penance for them and total closure for trusting Lord Billy.

I suppose, because Gable was dommiciled in another country an inquiry is out of the question. In any event, now that Billy is a Lord, there is not much anybody can do.

[luckymouse] 11/6/2018 16:16

Yeah you can't touch this guy with a bargepole

[luckey jim] 08/6/2018 11:37

Well Lord Billy, after creating Gable using a loophole that allowed Gable to trade and now accuses "Solvency 11" as the reason Gable failed, he is now trying his hand at Wealth Management. I noticed on the FCA webside he is just plain William Albert Dewsall and not Lord Billy. After milking Gable dry with his enormous salary and leaving shareholders high and dry he has now resurfaced and created his new immage as Lord Billy. Yes it was Holgath Underwriting Agencies who offered £10m which it did not have to the Litchtenstein Authorities to allow Gable to continue to trade. Purhaps this is the expertise that Lord Billy now has to create wealth that will allow his new wealth management client's at Bond Weath Management Limited to achive their investment dreams. I don't think so.

[solarno lopez] 01/6/2018 08:36

You gotta laugh

Yes the Lordship was bought and he is now called Lord Billy as in goat !

Acquired no doubt to impress the Americans at Argo where he is helping if that's that correct word

[luckymouse] 29/5/2018 20:14

What a look

hxxps://www.wealthandfinance-news.com/the-business-elite-uk-ceo-of-the-year-2016

[luckey jim] 29/5/2018 16:27

Hi Garbetklb, I doubt very much if he has been ennobled, probiblly as you say a "Lord of the Manor" title, I do not know why people do this, as they immediately "mug themselves off" with the people that matter. Can you imagine Billy Dewsall after all that has happened explaning to his bank manager that he is now Lord Dewsall. His new venture Bond Wealth Management Limited and Bond Finance are nothing to write home about.It seems the liquidators of Gable have lots of problems sorting out claims and premiums and the overall loss is rapidly increasing. Perhaps his Lordship will help the liqudators to sort out the financial mess he has left behind before he tries his hand at wealth management.

[garbetklb] 29/5/2018 15:17

Looks like that - have just searched Companies House and there he is...... I wonder if he was ennobled? Or bought one of those "Lord of the Manor" titles?

Doing a couple of searches, it appears that Hogarth UW have been wound up - wasn't it Hogarth who somehow persuaded the Lichtenstein regulator that they were good for a £10m guarantee (that turned out to be sort of optional) to let Gable keep trading for a while....

Also spot that Hogarth fired a Ms DN Hamilton without notice; the Employment Tribunal awarded her 3 months pay.

And now Lord D is involved in a couple of companies called Bond Wealth Management Ltd - based in the heart of Insuranceville in the City. Oddly, I can't see any mention of Lord D on there website - nor, actually of any other human. Normally companies like to boast of their highly experienced directors / employees.