Inland Zdp Discussion Threads

[bsdjj] 19/11/2024 13:06

I mean how does the "security" that was supposed to always be 120% of the amount due to the ZDP Co. end up as a few percentage points??

[bsdjj] 18/11/2024 10:41

The administrators progress reports on the various entities (on Companies House) make depressing reading.Perhaps the most significant is on Hugg Homes, the modular housing assets which seemed to be the zero holders main hope of salvaging something. The 75 modular housing units that were in the books for £3.5m have been sold for a derisory £825k.Does not seem like zero holders will receive much at all from the administration save what can be gained from pursuing the directors.

[boystown] 08/9/2024 13:01

DAK; is there any realistic chance of ever getting anything back on these?

[pjrh] 19/8/2024 17:29

In reply to Arthur Lame Socks, Azets are acting on behalf of zero holders to try and get something back. They believe there has been misfeasance at the company and will litigate if they think they can get anything back but this can take 18-24 months.
It sounds as though there was Director's liability insurance in place but there are a number of other creditors going after Wickes and Malden.

If you can find a firm that would take it on a no win no fee basis then I am sure a lot would join in but I am doubtful any legal firm would get involved with it at the moment?

[octopus7] 17/8/2024 07:40

Farrugia, theoretically yes as INL claimed they had segregated assets including a large chunk of cash to cover the INLZ Prefs, but in reality the assets were worthless and they spent the cash.

[farrugia] 17/8/2024 06:48

so inlz bondholders got nothing? I'm curious to know. I don't hold any but i thought this was a safer safer way of playing inland then.

[arthur_lame_stocks] 17/8/2024 06:32

Hi all

Try [e-mail]

[p1966] 16/8/2024 20:36

Arthur, I just tried to send you a private message, but I'm not sure if it went through. If you don't receive it, let me know and I will try and send again. Cheers. Phil

[davebowler] 15/8/2024 13:48

Hi ArthurI'm a Financial Adviser and have about £260k+ in clients and personal money in this so would gladly agree to such a step. How do we contact one another?

[davebowler] 15/8/2024 13:45

Yes, to both questions!

[nicholasblake] 14/6/2024 09:23

@davebowler Suggest you ask your nominee to check.

[davebowler] 14/6/2024 08:08

nicholasblake -no, nothing so far!

[bsdjj] 13/6/2024 15:51

Azets now officially appointed as liquidators.

[nicholasblake] 10/6/2024 16:20

Azets in its letter of 25 April said it would by 30 April send registered pref holders a Statement of Affairs and final balance sheet. Has anyone been passed on a copy of that?

[bsdjj] 21/5/2024 17:32

Hopefully Azets if appointed as liquidators of the ZDP company.

[my retirement fund] 21/5/2024 17:28

You guys have no one working for you, do you?

[bsdjj] 21/5/2024 17:21

Yes we know that but that is from the PLC. The ZDPs have a prior fixed charge over the assets of Hugg Homes (mobile units) and two small assets of indetermimant value.

[greedfear] 21/5/2024 15:08

Cheers for posting dave!

[greedfear] 21/5/2024 15:07

Well, that’s it then: zero! I will not think about how that’s even possible. Write off and forget. BOL holders.

[davebowler] 21/5/2024 14:04

I've just noticed this - click on the following to see entry '29 April 2024 Administrators' Progress Report'.
(Page 10 - estimated outcome for creditors)

[davebowler] 14/5/2024 13:39

Thanks pjrh.

[p1966] 14/5/2024 11:28

The Beaconsfield site was the jewel in the crown, but rather than being developed by INL itself, was just sold off piecemeal to other developers, whilst INL focused on flats - with planning delays and cost overruns? Phase 3, Meridian Southampton, c.130 flats was changed from 'build to sell' to 'build to rent', managed by Carter Jonas. This must have starved INL of cash, as well as the investment (and management distraction) of Hugg Homes. How up front were the directors, non-execs, audit?

[pjrh] 13/5/2024 21:11

Sam Forman at Azets 01213 740180